Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, February 2, 2011

About five suitors vie for Evonik carbon ops-sources

A handful of strategic and financial bidders have expressed interest in the Carbon Black unit of Germany's unlisted chemical maker Evonik Industries [EVON.UL], several people close to the matter told Reuters. Bids are due toward the end of February, and Evonik hopes to close the deal in the second quarter, the sources said. "It will be a race between Asian players and private equity," an industry source said, adding that the business has vastly shifted to Asia in recent years.

Source