DuPont Is Cashing In on Delrin Business With Sale to Private-Equity Firm

The materials manufacturer DuPont confirmed that it has agreed to sell an 80.1% ownership interest in Delrin, an acetal homopolymer business, to the private-equity firm TJC LP.

The deal is valued at $1.8 billion and is expected to close around year-end 2023, according to a press release. When the deal is closed, DuPont will receive pretax cash proceeds of approximately $1.25 billion, subject to customary transaction adjustments, plus a note receivable of $350 million. It will own a 19.9% noncontrolling equity stake in the Delrin business.

“This transaction is structured to maximize value for our shareholders, providing significant cash proceeds at close to be deployed in line with our strategic priorities while providing an opportunity for DuPont to participate in future upside potential upon exit of our retained equity interest in the Delrin business,” said CEO Ed Breen.

Shares of DuPont were 1.4% higher in premarket trading. Coming into Monday’s session, the stock had climbed 9.9% this year.

इंडिया ताज़ा खबर, इंडिया मुख्य बातें

Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।

This business owner can retire with peace of mind, ‘knowing the company is in good hands’The founder and chairman of American Pacific Mortgage in California sold the company to its employees through a partial employee stock ownership plan.
स्रोत: MarketWatch - 🏆 3. / 97 और पढो »

Louisiana Hair Braiders Say Regulatory Overreach Is Destroying Their BusinessIf regulators can come after lower-income professionals at safe, responsible businesses, they can criminalize anyone.
स्रोत: truthout - 🏆 69. / 68 और पढो »

4 events in Utah Valley to help you network and strengthen your small businessIf you aren't sure if participating in your local Chamber is worth your investment, you should know that membership comes with several benefits, both direct and indirect.
स्रोत: KSLcom - 🏆 549. / 51 और पढो »