Evonik has announced that it intends to divest its site in Lülsdorf, south of Cologne in Germany, and will draw up more detailed plans by spring 2022. The company would prefer an outright transfer to a single owner but will consider selling it in parts.

Christian Kullmann, chairman of the executive board, said: “With our focus on high-margin speciality chemicals, further development of the site doesn’t make sense for us”. Some potential investors have already expressed interest.

According to unconfirmed reports, private equity firm Permira is considering exiting from its ownership in CABB after seven years and an auction may begin next year. The German-headquarters fine and speciality chemicals producer could raise about $1.2 billion, it is estimated.

Permira, which has about €44 billion in committed capital around the world, originally acquired CABB from Bridgepoint in 2014. Four years later, it bought Evonik Jayhawk Fine Chemicals, adding a US presence to the company.

Clariant has agreed to sell 80% of its Pigments business to a consortium made up of German pigments specialist Heubach Group and private investment firm SK Capital Partners, which owns many other chemical industry operations. This should close in 1H 2022.

Croda International is to conduct a strategic review of its Performance Technologies and Industrial Chemicals (PTIC) businesses during 2021, to decide on the best ownership structure going forward. Full or partial divestment and a spin-off are all options, the company said.