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Issue 6/2019 - Evonik will sell its MMA business

 Last Update: 2022-11-11
 Source: Internet
 Author: User

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Evonik to sell its MMA businessEvonik recently signed a contract with Advent International to sell its methacrylate business

for 3 billion euros.
The transaction is subject to approval from authorities in several countries and is expected to close
in the third quarter of this year.
The transaction will include methacrylates, acrylic products, the CyPlus product line and some methacrylic resins
.
The difference between the sale price and the net selling price (equity value) of the transaction is approximately EUR 500 million and is mainly used for pension payment obligations
.
Evonik will use the proceeds from the sale to strengthen its financial position and invest in growth projects
.

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