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Bidding for Rütgers May Top €300 Million ($438 Million)

10:27 AM MST | November 16, 2007 | Alex Scott

Bids from companies competing for the purchase of Evonik’s tar chemicals subsidiary Rütgers have gone beyond €300 Million ($438 Million), according to a recent report in German newspaper Financial Times Deutschland, citing financial and industry sources. One of the favorites for securing the purchase of the tar chemicals business is private equity company Nordwind Capital (Munich, Germany), the report says. Private equity firm Triton (London), coal tar chemicals producers Koppers (Pittsburgh, PA) and Himadri Chemicals and Industries (Kolkata...

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