Bloomberg: Birla is merging carbon black businesses for possible IPO

Following up on yesterday’s news that Aditya Birla Nuvo is selling its Hi Tech Carbon business to a Birla holding company called SKI Carbon Black (India) Pvt., Bloomberg today reported that Birla plans to merge all its carbon black units into SKI and possibly sell shares in the combined company, quoting two people familiar with the matter. Columbian Chemicals Co., which Birla acquired in 2011 $875 million, will also be merged with SKI, according to Bloomberg. The combined business is essentially tied with Cabot as the world’s largest producer of carbon black. The new entity may sell shares in an initial public offering as early as next year, Bloomberg sources said.