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Business
Rhône Capital Buying Evonik Carbon Black
by Michael McCoy
April 25, 2011
| A version of this story appeared in
Volume 89, Issue 17
Seven months after putting its carbon black business up for sale, Evonik Industries has agreed to sell it to the private equity firm Rhône Capital. The deal, for more than $1.2 billion, is expected to be completed this summer, in advance of an initial public offering (IPO) of Evonik stock. Evonik’s main shareholder, the RAG Foundation, recently stated that it plans to carry out the IPO in the next 15 months. With revenues of about $1.7 billion in 2010, Evonik’s carbon black business is the world’s third-largest producer of the rubber additive.
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