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Reuters: Advent a frontrunner in Evonik sale

Reuters reported today that buyout firm Advent is the frontrunner in the bidding for the Carbon Black unit of Germany’s Evonik Industries, citing two people familiar with the transaction told Reuters.

Advent is among three financial investors who have made bids of about 1 billion euros ($1.39 billion) for the business, which supplies carbon particles used in tyres as well as laser printer and photocopier toners. India’s industrial conglomerate RPG Group remains interested in the asset, the sources said, adding that a deal is expected to be signed at the end of this month.

Evonik and Advent declined to comment.

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