WILMINGTON, Del., Nov. 1, 2023 – DuPont (NYSE: DD) announced that today it will complete its previously announced sale of an 80.1% ownership interest in the Delrin® acetal homopolymer (H-POM) business to an affiliate of TJC LP (TJC) in a transaction valuing the business at $1.8 billion.
At close, DuPont will receive pre-tax cash proceeds of approximately $1.28 billion which includes certain customary transaction adjustments, a note receivable of $350 million, and will retain a 19.9% non-controlling common equity interest in the Delrin business.
DuPont will hold its third quarter earnings conference call today, November 1st at 8:00 a.m. ET.
TJC (formerly known as The Jordan Company, L.P.), founded in 1982, is a middle-market private equity firm that has raised funds with original capital commitments in excess of $23 billion and a 41-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Diversified Industrials; Technology, Telecom & Power; Logistics & Supply Chain and Consumer & Healthcare. The senior investment team has been investing together for over 20 years and is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. TJC has offices in New York, Miami, Chicago and Stamford. For more information, visit www.tjclp.com.
DuPont (NYSE: DD) is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, healthcare and worker safety. More information about the company, its businesses and solutions can be found at www.dupont.com. Investors can access information included on the Investor Relations section of the website at investors.dupont.com.
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