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 . Celanese’s 14-day relative strength index of 32 indicates that it’s getting closer to moving into an “oversold” position. 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 ##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 .