India conglomerate may buy US carbon black firm for $800m - report

24 January 2011 19:54  [Source: ICIS news]

HOUSTON (ICIS)--US carbon black manufacturer Columbian Chemicals did not immediately comment on Monday about news reports that Indian conglomerate Aditya Birla Group was seeking to buy the company for $800m (€584m).

Mumbai-based Aditya Birla would pay $800m in cash, according to a report in The Wall Street Journal on 22 January.

Georgia-based Columbian Chemicals is owned 66.75% by One Equity Partners, an investment banking group held by JP Morgan Chase.

Columbian Chemicals is the world’s third-largest carbon black manufacturer (after Cabot and Evonik) and has about 9% of global market share, according to Standard & Poor’s.

($1 = €0.73)

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By: Ben DuBose
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