23 March 2012 14:26 [Source: ICIS news]
RAG, a German coal foundation, holds the majority of Evonik. Proceeds from Evonik’s IPO will go towards paying for environmental and other costs related to the closure of coal mines in North Rhine-Westphalia state.
In 2008, RAG suspended plans for Evonik’s IPO because of unfavourable capital market conditions. Instead, RAG sold a 25.01% stake of Evonik to private equity firm CVC.
Meanwhile, RAG's supervisory board extended the contracts of RAG’s executive board, including that of CEO Wilhelm Bonse-Geuking, by one year to July 2013.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections