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DuPont de Nemours Inc NYSE:DD NYSE Common Stock
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  -1.17 -1.41% 81.68 83.78 81.65 83.49 4,062,068 21:42:01

DuPont to Sell DuPont Clean Technologies for $510 Million

01/02/2021 12:47pm

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By Colin Kellaher

 

DuPont de Nemours Inc. on Monday said it agreed to sell its DuPont Clean Technologies business for $510 million as it concludes a review of non-core businesses and the combination of its nutrition and biosciences unit with International Flavors & Fragrances Inc.

The Wilmington, Del., conglomerate said an international private-equity consortium is buying the unit in a deal slated to close in the second quarter.

DuPont also said it has opted to retain its Tedlar and microcircuit materials businesses, along with its DuPont Teijin Films venture, adding that those businesses are now part of its mobility and materials segment.

DuPont said it is receiving a special cash payment of about $7.3 billion in connection with the International Flavors deal, adding that it use roughly $5 billion to pare its debt load, bolstering its balance sheet.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

February 01, 2021 07:32 ET (12:32 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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