After calling off a joint venture with Celanese to create a new global acetate ##s supplier , private equity firm Blackstone is looking to sell Rhodia Acetow for $ 1bn , according to Bloomberg . Blackstone pulled out of the merger after the European Commission asked for divestitures that demonstrated the benefits of combining . The JV had already gained approval from China , Brazil , India and Russia with requests for divestitures .
After calling off a joint venture with Celanese to create a new global acetate tow supplier, private equity firm Blackstone is looking to sell Rhodia Acetow for $1bn, according to Bloomberg. Blackstone pulled out of the merger after the European Commission asked for divestitures that undercut the benefits of combining. The JV had already gained approval from China, Mexico, Turkey and Russia with requests for divestitures.