Private equity firm Advent is the frontrunner in the bidding for the Carbon Black unit of German chemical maker Evonik, Reuters reported. Advent is among three investors who have made bids of about 1 billion euros ($1.39 billion) for the business, which supplies carbon particles used in tires, laser printer and photocopier toners, Reuters wrote.
(Reuters) – Buyout firm Advent is the frontrunner in the bidding for the Carbon Black unit of Germany’s unlisted chemical maker Evonik [EVON.UL], two people familiar with the transaction told Reuters.
Advent is among three financial investors who have made bids of about 1 billion euros ($1.39 billion) for the business, which supplies carbon particles used in tyres as well as laser printer and photocopier toners.
India’s industrial conglomerate RPG Group remains interested in the asset, the sources said, adding that a deal is expected to be signed at the end of this month.
Evonik and Advent declined to comment.
(Reporting by Matthias Inverardi and Frank Siebelt; Writing by Ludwig Burger)
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