DuPont To Complete Sale Of 80.1% Stake In Delrin Business To TJC

(RTTNews) - Specialty chemicals company DuPont de Nemours, Inc. (DD) announced on Wednesday that it will complete the planned sale of its 80.1 percent ownership in Delrin acetal homopolymer business to an affiliate of private equity firm TJC LP.

The transaction values the Delrin business at $1.8 billion.

Upon closing of the transaction, the company will receive around $1.28 billion pre-tax cash proceeds and a note receivable of $350 million.

The company will continue to retain a non-controlling equity interest of 19.9 percent in the business.

In pre-market activity, DuPont shares are trading at $71.80, down 1.48% on the New York Stock Exchange.