DuPont de Nemours (NYSE:DD) announced Friday that it has reached a deal to sell its Aramids unit, which includes the Kevlar and Nomex product lines, to Arclin for $1.8 billion.
The agreement, now finalized, involves Arclin—a company in the TJC portfolio (formerly The Jordan Company)—acquiring the business under the terms outlined by DuPont.
As part of the transaction, DuPont will receive roughly $1.2 billion in cash along with a $300 million note receivable, a legally binding promise of future payment. In addition, DuPont will hold a non-controlling stake in the restructured Arclin entity, valued at $325 million, equating to an ownership of around 17.5%.
DuPont emphasized that this sale of its Aramids operations will not affect the previously scheduled separation of its electronics business, which remains set for a spin-off on November 1.
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