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
Under the agreement, Agilyx and Technip Energies will collaborate with INEOS Styrolution and together develop the design and engineering that will serve as the basis for constructing the chemical recycling facility. The group anticipates completion of engineering in 2023, which will form the basis for a financial investment decision.
Michael Grun took over as the new CEO and President of the WeylChem Group of Companies. He was most recently employed as M&A advisor at WeylChem owner International Chemical Investors Group (ICIG). He succeeds Uwe Brunk, who has decided to step down from these functions after four and a half years and will in turn support ICIG in its growth projects in the future.
With this acquisition, Brenntag Essentials expands its business into key focus markets in Asia Pacific, including Singapore, Malaysia, Indonesia, and the Philippines. This is an additional step in Brenntag’s ongoing transformation process, driving its stringent execution of the Brenntag Essentials strategy to strengthen local capabilities and market coverage in high growth markets like Asia-Pacific.