On Tuesday, Reuters reported that financial investors Triton Capital and Rhone Group remain the sole bidders for the Carbon Black unit of German chemical maker Evonik, citing two people familiar with the transaction.
The deal is expected to be signed within the next ten days and will probably value the unit at about 1 billion euros ($1.42 billion) including assumed debt, the sources also said on Tuesday.
The financing of Carbon Black acquisition is set to follow a recent trend of using high-yield bonds rather than loans in leveraged buyouts, sources close to the deal told Reuters last month.
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