Dupont sells another business
Recently, DuPont announced that it has reached a final agreement to complete the previously announced sale of an 80.1% ownership interest in the Delrin® Homopolymer (H-POM) business to an affiliate of TJC LP (" TJC "), in a transaction valued at $1.8 billion.
Upon completion of the transaction, DuPont will receive approximately $1.28 billion in pre-tax cash proceeds, including certain regular transaction adjustments, $350 million in notes receivable, and will retain a 19.9% non-controlling common stock interest in the Delrin business. DuPont Executive Chairman and CEO Ed Breen said the sale completes DuPont's exit plan for the former Transportation and Materials Division.
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