Four private equity firms eye Evonik stake - report

02 April 2008 16:48  [Source: ICIS news]

HOUSTON (ICIS news)--Four private equity firms are the favoured bidders for a stake in German company Evonik Industries, which includes the former Degussa specialty chemicals operation, Reuters reported on Wednesday.

The bidders were identified as the Blackstone Group, Kohlberg Kravis Roberts, Bain Capital and CVC.

Evonik's owner, RAG,  reportedly planned to sell 25-33% in the company.

Reuters quoted sources who said the bids for a 25% stake in Evonik are worth roughly €2bn ($3bn ) each. Final offers could be made in May or June.

($1 = €0.64)

By: Al Greenwood
+1 713 525 2645

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