DuPont announced that it completed its previously announced sale of an 80.1% ownership interest in the Delrin® acetal homopolymer (H-POM) business.
It sold its majority interest in Delrin® H-POM business to an affiliate of TJC LP (TJC) in a transaction valuing the business at $1.8 billion.
Retains 19.9% Non-controlling Common Equity Interest
At close, DuPont receives pre-tax cash proceeds of approximately $1.28 billion which includes certain customary transaction adjustments, a note receivable of $350 million, and will retain a 19.9% non-controlling common equity interest in the Delrin business.
DuPont held its third quarter earnings conference call, November 1
st at 8:00 a.m. ET.
Source: DuPont