It is reported that DuPont may sell Delrin's resin division for $1.8 billion
Release time:
22 Aug,2023
DuPont is in deep talks with private equity firm Jordan Company to potentially sell its Delrin resin unit to the latter for about $1.8 billion, according to people familiar with the matter.
DuPont is in deep talks with private equity firm Jordan Company to potentially sell its Delrin resin unit to the latter for about $1.8 billion, according to people familiar with the matter.
The New York-based private equity firm could announce a deal to acquire DuPont's chemical assets as early as this week, people familiar with the matter said. But they warned that a final decision had not yet been made and that negotiations could still break down.
If Jordan's acquisition is successful, it will beat Lone Star Funds and Platinum Equity, which are also competing for the asset.
The divestiture underscores DuPont's renewed focus on electronics, automotive, water and industrial technologies. Under executive chairman Ed Breen, the company merged with Dow Chemical in 2017 and then reorganized into three separate businesses, with most of its mobility and materials divisions sold to Celanese in 2022.
Jordan Company, a middle-market company with a long history of investing in chemical companies, has stakes in Arclin, Vantage and Polymer Solutions Group, according to its website. Delrin produces chemicals that are lightweight and can be used as metal substitutes in everything from mechanical gears to zipper fasteners.
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