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...Large German chemical groups such as BASF, Evonik and Covestro have likewise in recent months warned of slowing demand for consumer goods, as they have reported severe slumps in sales of chemicals that go...
...Evonik sold a similar business to Advent in 2019. One notable exception is Ineos, which has been buying up unwanted fossil fuel assets....
...Evonik is divesting what is a commodity business as it seeks to narrow its portfolio and focus on more speciality chemicals....
...If successful, this would be Advent’s second acquisition of a public company in days, after the private equity group acquired a unit of Germany’s Evonik on Monday....
...If larger German rival Evonik, was going to make a bid, it surely would have done so by now....
...Swiss chemicals group Clariant and its US rival Huntsman Corp have abandoned a planned $20bn merger after opposition by an activist investor group that included Keith Meister’s Corvex hedge fund....
...investor group that includes Keith Meister’s Corvex hedge fund has increased its stake in Swiss chemicals group Clariant to 15.1 per cent and repeated demands that it drop a planned $20bn tie-up with Huntsman Corp...
...The financial benefits, plus talk of a counterbid from someone like BASF or Evonik, pushed Clariant shares up 9 per cent....
...Evonik was completing its reinvention from the remnants of the Degussa industrial empire, had sharpened its focus on speciality chemicals and had started a €6bn investment plan aiming to build a platform...
...In Europe, it owns a 4.6 per cent stake in German chemicals maker Evonik, 6 per cent of Spanish oil company Repsol and 10 per cent of Markit....
...“I’m afraid that’s my phone,” he said, triggering guffaws among the press corps. Former French President Nicholas Sarkozy was also habitual texter....
...Companies that may seek to list in the near future include Spanish lottery company Loterias, Acromas, the UK private equity controlled group that was formed from AA and Saga in 2007, German chemicals maker Evonik...
...He quickly decided to focus the group on its core power business, divesting its property operations, its stake in the Degussa chemicals company and its telecoms interests....
...Tuesday’s deal was the first-ever for Evonik. Its speciality chemicals subsidiary, Evonik Degussa, is rated BB. The deal followed a week-long roadshow introducing the company to investors....
...It was October 2007, and the general manager of Evonik Degussa’s chemical plant at Seal Sands, Teesside, had been called to a meeting at the German parent company....
...Before that he was chief executive of Laporte, the specialty chemicals company, from 1995 until 2001, when it was acquired by Germany’s Degussa....
...from the Degussa chemicals business....
...In 2006, the group swallowed the construction chemicals business of German rival Degussa, US company Johnson Polymer, and Engelhard, a US-based maker of catalytic converters....
...Roche, 2001 - €462m BASF, 2001 - €296.16m Lafarge, 2002 - €249.60m Arkema, 2006 - €219.13m Arjo Wiggins, 2001 - €184.27m Solvay, 2006 - €167.062m Nintendo, 2002 - €149.128m BPB, 2002 - €138.60m Degussa...
...Speculation that a financial buyer was considering a leveraged buyout pushed Degussa up 5 per cent to €39.54....
...Default swaps in Degussa, the German specialty chemicals producer, also rose about 70 per cent to 97bp during the week, amid speculation that the company could be broken up and private equity companies would...
...The chemicals sector saw plenty of action as Switzerland's Clariant and Degussa of Germany announced results....
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