News from Notch Consulting, Inc.

December 18, 2010

Evonik Carbon Black bids due by Jan. 12

Filed under: Carbon Black — Notch @ 7:00 am

The Wall Street Journal reports that first round bids for Evonik Industries’ AG Carbon Black unit are due Jan. 12, quoting a person familiar with the situation said Thursday.

Evonik launched the sale process September as part of its plan to sell-off non-core assets and focus on specialty chemicals. Barclays PLC (BCS) is running the auction process, people said.

Evonik’s Carbon Black business has earnings before tax, interest, depreciation and amortization, or Ebitda, of between EUR125 million and EUR130 million on annual sales of around EUR1 billion.

Evonik is looking to get EUR1 billion for the unit and information memorandums have been sent to both strategic and private equity firms interested in the process, the people added.

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