Issue 16/2019 - Evonik completes the divestiture of its methacrylate business

Evonik has officially completed the sale of its methacrylate business
, marking a step forward
in the company's continued strategy to focus on specialty chemicals.

The methacrylates business for sale has 15 manufacturing sites worldwide and employs 3,900 people
.
From 2016 to 2018, the business had an average annual EBITDA of around EUR 350 million and annual sales of around EUR 1.
8 billion
.
The divestiture was sold for EUR 3 billion
.
The difference between the transaction price and the net selling price is approximately EUR 600 million, mainly for pension payment obligations
.
The transaction has received unrestricted approval
from the relevant antitrust authorities.

Evonik Chairman Kulleman said: "This sale is another powerful step
for Evonik to further focus its portfolio on specialty chemicals and thus reduce its dependence on economic cycles.
In the face of macroeconomic trends, our portfolio is now more dynamic
than ever.
”