Advent, Carlyle considering bid for DuPont’s $12bn unit

Carlyle Group Inc and Advent International Corp are among several buyout firms considering a bid for DuPont Inc’s mobility and materials unit, Bloomberg News reported on Thursday, citing people familiar with the matter.

Apollo Global Management Inc and CVC Capital Partners are also studying the business, which could be valued at as much as $12 billion, according to the report.

Shares in DuPont rose around 1% in afternoon trading.

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DuPont, once part of the erstwhile chemical giant DowDuPont has been tweaking its portfolio. It has separated its Nutrition & Biosciences business, agreed to divest two other businesses, and struck a deal to buy Laird Performance Materials for $2.3 billion in July.

The company, which makes everything from brake fluid to fabric for protective garments, is working with Goldman Sachs Group Inc to gauge interest in the unit, the report added.

DuPont declined to comment on the report.

Source: Reuters

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