DuPont wants to sell food division

08-Aug-2019 - USA

According to insiders, DuPont is considering a big sale. The US specialty chemicals company is considering launching its Nutrition & Biosciences division, reported Bloomberg news agency on Tuesday, citing people familiar with the business. If one takes the valuation of competitors into account, the division could be valued at at least 20 billion US dollars. The DuPont share gained a good 3 percent on the announcement.

In addition to a sale, a spin-off could also be considered, Bloomberg continued. A so-called Reverse Morris Trust - a tax-free merger with another company in the USA - is also possible. For the latter construct, the fragrance and flavour manufacturers International Flavors & Fragrances (IFF) <US4595061015> or Givaudan <CH0010645932> from Switzerland could be considered.

DuPont <US26614N1028> is valued at around 50 billion US dollars on the stock exchange. DowDupont recently spun off the specialty chemicals group and is now called Dow Inc <US2605571031>. DuPont would concentrate on the production of materials for the construction, transport and electronics industries through the spin-off of the Nutrition & Biosciences division /fba/ajx (dpa)

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