DuPont de Nemours Inc. (DD) has officially announced its plans to sell an 80.1% ownership interest in Delrin, a leading acetal homopolymer business. The sale will be made to TJC LP at a valuation of $1.8 billion.
Unlocking Value for Shareholders
As part of the transaction, DuPont will receive approximately $1.25 billion in pre-tax cash proceeds and a note receivable of $350 million. Additionally, the chemical giant will retain a 19.9% non-controlling common equity interest in the business.
DuPont Chief Executive Ed Breen emphasized that the structure of this deal was designed to maximize value for their shareholders. The significant cash proceeds generated from the transaction will be strategically deployed in line with the company's priorities. Furthermore, the retained equity interest in the Delrin business offers an opportunity for DuPont to participate in future upside potential.
Advanced Deal Talks Bear Fruit
Late Sunday, Bloomberg News had already reported on the advanced negotiations between DuPont and TJC LP regarding this deal. With the public confirmation, DuPont's shares saw a 0.8% increase in premarket trading on Monday.
Stay tuned for further updates on this significant development in the chemical industry!
Our Latest News
Autoliv Raises Full-Year Sales Growth Guidance
Autoliv raises its full-year sales growth guidance after experiencing better-than-expected global light vehicle production in Q3. Despite challenges, the compan...
Novartis Q2 2023: Sales Forecast and Key Growth Drivers
Novartis is set to release its second-quarter results with projected sales of $13.45 billion and net income of $3.55 billion. Key growth drivers include Kisqali...
Dundee's Decision on Osino Resources
Dundee shares surge as company decides not to increase bid for Osino Resources after better offer received.