DuPont to Divest Majority of Mobility & Materials Segment to Celanese
DuPont recently announced that it has entered into a definitive agreement with Celanese Corp. to divest a majority of its Mobility & Materials segment, including the Engineering Polymers business line and select product lines within the Performance Resins and Advanced Solutions business lines, for $11 billion in cash, subject to customary transaction adjustments in accordance with the definitive agreement. Combined, these businesses generated net sales of approximately $3.5 billion in 2021.
Celanese has reportedly received fully committed financing in connection with the transaction. Closing is expected around the end of 2022, subject to customary closing conditions and regulatory approvals.