Rhône Capital to Buy Evonik’s Carbon Black Business

Evonik Industries says it has agreed to sell its carbon black business to private equity firm Rhône Capital (New York). The transaction is valued “in excess of” €900 million ($1.3 billion) including “the assumption of certain obligations,” Evonik says. The deal is expected to close this summer. Evonik put its carbon black business up for sale last September as part of the company’s strategy to focus on specialty chemicals. The sale process began last November and it attracted several private equity and chemical industry bidders, sources say. The...

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