DuPont has completed the previously announced divestiture of the majority of its former Mobility & Materials segment to Celanese for a purchase price of $11 billion, subject to customary transaction adjustments in accordance with the transaction agreement dated February 17, 2022. The results of the M&M Business were reclassified and reported as discontinued operations, beginning in the first-quarter 2022 for current and historical periods.
The divestment includes a majority of DuPont’s Mobility & Materials segment, including the Engineering Polymers business line and select product lines within the Performance Resins and Advanced Solutions business lines. The Auto Adhesives, Multibase, and Tedlar® product lines within the Mobility & Materials segment are not included in the scope of the intended divestitures.
In announcing the company’s third-quarter 2022 results, Ed Breen, DuPont Executive Chairman and Chief Executive Officer, commented on the deal. “Last week’s closing of the M&M divestiture to Celanese was a milestone event for DuPont, advancing our strategy to concentrate the Company’s portfolio in more stable, higher-growth and higher-margin businesses,” Breen said. “With the M&M sale now complete, we are returning substantial excess capital to shareholders while also further strengthening our balance sheet to maintain financial flexibility.”
For more information, visit: www.dupont.com.
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