ESSEN, Germany - Evonik Industries signed an agreement with affiliates of Rhône Capital LLC to sell its carbon black business. The transaction is valued in excess of EUR 900 million, including the assumption of certain obligations. The closing is subject to approval by Evonik’s Supervisory Board and competent antitrust authorities. Closing is expected during the summer of 2011.
“With the sale of our carbon black activities to Rhône Capital, we believe that their further development potential is highly promising. We are putting the business in good hands. The transaction is good for Evonik, the future of the carbon black business, and its employees. At the same time, this represents another major step toward a more clear-cut profile for Evonik as a leading specialty chemicals company when it goes public,” said Klaus Engel, Chairman of the Executive Board of Evonik Industries AG.
Evonik Sells Carbon Black Business to Rhône Capital
April 24, 2011