Sector News

DuPont completes divestiture of Mobility & Materials segment; cancels Rogers acquisition

November 6, 2022
Chemical Value Chain

DuPont (Wilmington, Del.) completed the previously announced divestiture of the majority of its former Mobility & Materials segment (the M&M Business) to Celanese Corp. (Dallas, Tex.) for a purchase price of $11 billion in cash, subject to customary transaction adjustments in accordance with the transaction agreement dated February 17, 2022.

The results of the M&M Business were reclassified and reported as discontinued operations beginning in first quarter 2022 for current and historical periods.

DuPont also announced the termination of the previously announced agreement to acquire the outstanding shares of Rogers Corporation, as the companies have been unable to obtain timely clearance from all the required regulators. DuPont is paying Rogers a termination fee of $162.5 million in accordance with the agreement.

By Mary Bailey

Source: chemengonline.com

 

comments closed

Related News

November 27, 2022

ICIG to acquire MSSA from Nippon Soda

Chemical Value Chain

International Chemical Investors Group (ICIG) has entered exclusive negotiations with Nippon Soda and made what it said is a “firm and binding offer” to acquire the Japanese group’s offshoot Métaux Spéciaux (MSSA), a sodium metal specialist.

November 27, 2022

FIFA World Cup: Coca-Cola launches 100% recycled PET bottles to promote Qatari recycling

Chemical Value Chain

Aligning with the SC’s key initiatives on responsible plastic recycling, Coca‑Cola Middle East’s pilot of 100% rPET bottles marks the first time the packaging will be in circulation at a FIFA World Cup tournament and serves as Coca‑Cola’s debut in locally producing the bottles in the region.

November 27, 2022

Neste acquires another used-oils business in the U.S.

Chemical Value Chain

Through the transaction, Neste is acquiring a leading UCO collection and recycling business on the US West Coast, covering the collection, logistics and storage of UCO in California, Oregon and Washington. Together with the previous acquisitions (…) the transaction continues to enhance Neste’s global raw materials sourcing platform.