News from Notch Consulting, Inc.

January 2, 2009

DC to Sell Stake in Columbian Chemicals

Filed under: Carbon Black — Notch @ 11:46 am

According to JoongAng Daily, Korea’s DC Chemical plans to sell its 66.8% stake in Columbian Chemicals Company, the world’s third largest producer of carbon black. DC Chemical will sell the stake for 188.9 billion won ($150 million) in the first quarter of 2009 to JPMorgan Chase’s One Equity Partners LLC, which already owns 33% of Columbian.

DC disclosed the news in a regulatory filing on January 2. DC is selling the stake in order to reduce risk and focus on its polysilicon business. Proceeds will be used to reduce debt and fund capital investments. DC Chemical and One Equity Partners bought Columbian Chemicals in 2006 from its former parent, Phelps Dodge. Aside from its ownership in Columbian, DC Chemical also operates two carbon black plants of its own.

Advertisements

Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

%d bloggers like this: