June 18, 2017 / 9:46 PM / a month ago

BRIEF-Celanese, Blackstone to form joint venture in Acetate Tow

1 Min Read

June 18 (Reuters) - Celanese Corp :

* Celanese and Blackstone to form joint venture in Acetate Tow

* Proposed joint venture to combine Celanese's cellulose derivatives and Blackstone's Rhodia Acetow businesses.

* Celanese and Blackstone will own 70 pct and 30 pct of the JV, respectively

* JV to distribute $1.6 billion in cash to Celanese at close

* Deal to be earnings per share neutral for Celanese in the first year and accretive thereafter Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below