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Private Equity Firm Agrees to Buy Rütgers Chemicals
9:59 AM MST | December 5, 2007 | Alex Scott
Private equity firm Triton (London) has signed an agreement to acquire Evonik’s tar chemicals processing business Rütgers Chemicals (Castrop-Rauxel, Germany). Financial terms were not disclosed, although analysts prior to the agreement speculated that the business was worth in the region of €300 million ($438 million). The deal remains subject to approval by Evonik’s supervisory board, Evonik says. Rütgers Chemicals in 2006 generated an Ebit of about €60 million with corresponding sales of €650 million. Sales for the whole of...
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