28 September 2009 17:28 [Source: ICIS news]
Differences between AlzChem's and Evonik's core businesses were cited as the reason for the sale, an Evonik spokeswoman said.?xml:namespace>
Before a sale is finalised, Germany's cartel office and Evonik's board must accept the purchase conditions, the spokeswoman said.
A timeframe for the deal has not yet been agreed, she added.
Bluo and AlzChem were unavailable for immediate comment.
Evonik recently denied a report that it was planning to sell its power production and real estate divisions to focus on its specialty chemicals business.
In July, Evonik said it was performing a portfolio analysis of all of its activities with the support of investment bank JP Morgan.
In July, Evonik said it was performing a portfolio analysis of all of its activities with the support of investment bank JP Morgan.AlzChem, based in Trostberg, in southeastern
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