Phillips Carbon Black pursuing Evonik acquisition

On Monday, Sify Finance reported that RPG’s group chairman had confirmed to reporters that Phillips Carbon Black Ltd. was pursuing its bid to acquire Germany-based Evonik Carbon Black, the world’s second largest carbon black maker.

“Is it an opportunity (Evonik acquisition) that you should let go off?” RPG group chairman Sanjiv Goenka said while talking to reporters here Monday.

As reported here last week, Evonik has short-listed a group of around six bidders for the second round of bidding, which is expected to commence next month. This group includes buyout firms including Advent International, Triton Partners and Rhone Capital, as well as strategic buyers including Phillips Carbon Black Ltd., Aditya Birla Group, and Cabot Corporation.

On Monday, January 31, Birla Group announced that it had entered into a definitive agreement to acquire Columbian Chemicals for $875 million.

Kumar Mangalam Birla’s diversified conglomerate pipped rival bids, including one by the Kolkata-based PCBL, to acquire Columbian Chemicals.