Evonik Owners Sell 4.6% Stake to Temasek Ahead of Fourth IPO Try
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Evonik Industries AG’s owners have agreed to sell a 4.6 percent stake in the German chemical maker to Singapore’s Temasek Holdings Pte ahead of a fourth attempt at an initial public offering.
The state-owned investment company worked with HSBC Holdings Plc on the transaction, said a person with knowledge of the situation who asked not to be identified. Temasek spokesman Stephen Forshaw confirmed the sale, though declined to give more details. WirtschaftsWoche reported Temasek paid 600 million euros ($780 million) for a 5 percent stake.