May 17, 2008 (Germany)
Evonik Industries AG has signed an agreement for the sale of the Initiators Group to the U.S. investor Speyside Equity LLC for an undisclosed purchase price.
Pending the approval of Evonik’s Supervisory Board and the responsible antitrust authorities, the completion of the divestment transaction is expected for the second quarter of 2008.
The transaction includes the entire Initiators Group, with plants, amongst others, in Pullach, Germany and Elyria, Ohio, USA.
The business headquarters of the group will remain at the largest site: Pullach. Speyside Equity plans to continue the existing strategy.
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