DuPont to complete $1.28B sale of 80.1% interest in Delrin HPOM business

DuPont announced that it will complete its previously announced sale of an 80.1% ownership interest in the Delrin acetal homopolymer, or H-POM, business to an affiliate of TJC LP in a transaction valuing the business at $1.8B. At close, DuPont will receive pre-tax cash proceeds of approximately $1.28B which includes certain customary transaction adjustments, a note receivable of $350M, and will retain a 19.9% non-controlling common equity interest in the Delrin business.