Issue Date: December 21, 2009
Evonik To Jettison Nonchemical Holdings
Evonik Industries says it will transition itself into an all-chemical company by spinning off its energy and real estate holdings. Plans are under way to seek partners for the energy businesses and to launch the real estate operations as a publicly traded entity. Evonik’s chemical business, which includes the former Degussa, already accounts for about 75% of the company’s sales. In 2008, private equity firm CVC Capital Partners bought a 25% stake in Evonik.
- Chemical & Engineering News
- ISSN 0009-2347
- Copyright © American Chemical Society