Daicel buys Celanese share of Polyplastics for $1.575 billion

摘要

Celanese has agreed to sell its 45% share of Polyplastics to Daicel, its partner in the joint venture, for $1.575 billion in cash. Celanese says it will use the proceeds of the transaction, which is expected to close this year, for share repurchases and organic growth. Polyplastics will become a wholly owned subsidiary of Daicel, which says the deal is key to the restructuring of its plastics segment.