Nouryon completes spin out of Nobian
Nouryon has completed the spin-out of its base chemicals business, Nobian, into a separate company remaining under the ownership of Nouryon’s equity owners, The Carlyle Group and GIC.
As part of the spin-out transaction, Nouryon repaid EUR 1.5 billion of its debt with the proceeds of a completed external financing by Nobian. To help ensure a seamless transformation, Nouryon will continue to provide transitional support services to Nobian across multiple functional areas.
“Important milestone”
“This is an important milestone, positioning Nouryon as a global specialty chemicals leader,” said Charlie Shaver, Chairman and CEO of Nouryon and Chairman of Nobian. “This enhanced focus allows Nouryon to benefit from an increasingly specialised and leading portfolio in Performance Formulations and Technology Solutions, driven by resilient and growing end-markets.”
