ESSEN, Germany (April 18, 2011)—Evonik Industries A.G. has agreed to sell its carbon black activities to Rhone Capital L.L.C. for a sum in excess of $1.3 billion.
The carbon black business was previously known as Degussa.
Evonik said its carbon black business which had sales revenues of some $1.7 billion in 2010.
Evonik said the move helps the firm continue to focus systematically on its core chemical businesses.
The closing of the deal is subject to approval by Evonik's supervisory board and competent antitrust authorities, and is expected this summer.
The unit is being acquired intact as a whole, with its 1,650 employees, about 500 of whom are based in Germany.