DuPont de Nemours Inc. has agreed to sell a controlling stake in Delrin to private equity firm The Jordan Company in a deal valuing the resins unit at $1.8 billion.
Wilmington, Delaware-based DuPont will sell 80.1% of Delrin, with the transaction expected to close around the end of the year, according to a statement on Monday that confirmed an earlier Bloomberg News report. DuPont will hold the remaining interest.
Jordan prevailed over firms Lone Star Funds and Platinum Equity, which had also been competing for the asset, Bloomberg News previously reported.
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