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. The deal would be the largest ever buyout of an American company. On a year-to-date basis, the stock has declined 9.7%. The JV had already gained approval from China, Mexico, Turkey 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. The deal would be the largest ever buyout of an American company. The JV had already gained approval from China, Mexico, Turkey and Russia with requests for divestitures.