Evonik Agrees to Sell Carbon Black Business To Rhone Capital

On April 16, 2011, Evonik Industries signed an agreement with affiliates of Rhône Capital LLC to sell its carbon black business, which achieved sales revenues of some €1.2 billion in 2010. The transaction is valued in excess of €900 million including the assumption of certain obligations. Thus, Evonik continues to focus systematically on its core chemical businesses.
    
The closing is subject to approval by Evonik’s Supervisory Board and competent antitrust authorities, and is expected during summer 2011.
    
Carbon Black is being acquired intact as a whole, with its 1,650 employees, about 500 of whom are based in Germany.