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Evonik to Split off Energy and Real Estate Businesses

9:05 AM MST | December 18, 2009 | Ian Young

Evonik Industries has confirmed German press reports that the company plans to split off its energy and real estate businesses, and focus on chemicals. “As part of its new strategic focus,” Evonik plans to transform itself “from a conglomerate into a specialty chemicals company,” Evonik says. The energy and real estate businesses will be managed as independent subsidiaries. Evonik is seeking one or several partners to invest in its energy business, possibly as equity shareholders or by investing in specific projects. The company will merge...

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