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...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...
...CVC acquired its Evonik stake in 2008 for €2.4bn. A previous attempt to list Evonik was stopped last autumn after a similar bout of market uncertainty....
...About one-quarter of all nappies sold contain Evonik’s super-absorbents....
...Larger IPOs in the pipeline include Realogy, a US real estate company that is seeking $1bn, and Evonik, a German chemicals producer, which has resurrected a delayed listing that could raise up to €5bn....
...“In the current situation we do not believe capital markets would honour Evonik’s excellent performance and growth prospects,” the RAG Foundation that owns three-quarters of Evonik, said....
...Other founding members were said to be copper producer Aurubis, chemicals groups BASF, Bayer and Evonik, carmaker BMW, and steelmaker ThyssenKrupp – some of Germany’s largest groups and leaders in their...
...Evonik could not be reached for comment last night. Additional reporting by Anousha Sakoui in London...
...Evonik, a chemicals maker partially owned by CVC Capital Partners, has been planning an IPO for this autumn that could potentially be Germany’s biggest in a decade....
...Hapag-Lloyd, the container shipping group, and Siemens’ Osram unit have both shelved multibillion-euro flotation plans, and Evonik, the large German chemicals company, is expected to follow suit soon....
...The premium car and truck car group has sided with German industrial conglomerate Evonik to jointly develop and produce lithium-ion batteries and it has a partnership and small stake in French mass carmaker...
...Andreas Heine, analyst at Unicredit, said in a research report this week: “We expect Cognis to be sold and see Solvay, Evonik and BASF as potential buyers.”...
...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....
...In March Daimler began a venture with Evonik Industries to develop new-generation lithium-ion car batteries. From 2012 it plans to equip its electric cars with them....
...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....
...from the Degussa chemicals business....
...Rising costs also hit Germany’s Degussa down 1.5 per cent to €42.85 despite an upgrade in earnings forecasts from Goldman Sachs....
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