CVC cuts stake in Evonik

摘要

CVC Capital Partners, continuing its gradual withdrawal from its Evonik investment, is selling 15 million shares in the German specialty chemicals company for about ?520.0 million ($572.2 million), reducing its stake from 9.4% to 6.2%. The books for the placement were closed on 14 July, followed by a pricing. The private equity firm has sold Evonik shares worth about ?1.75 billion since March. In May, it placed a 4.7% stake.