Phillips Carbon comments on Degussa rumours

ERJ staff report (DS)

Mumbai, India - Phillips Carbon Black Ltd has issued a statement to the Bombay Stock Exchange saying it has not taken a final decision on the purchase of Evonik's carbon black business.

The statement follows widespread press speculation in India that Phillips will soon announce a successful bid to buy the former Degussa activities from Evonik. The speculation follows Birla Group's successful bid to buy Columbian Chemicals.

In its statement, Phillips, owned by the RPG group, said “the Company is always exploring opportunities for growth both organic and inorganic.” The statement continued, “The Company is also aware of the divestment process of Evonik's Carbon Black operations.” It added, “The Company have not taken any conclusive decision in this regard” before concluding that Phillips would inform the BSE when any such decision might be made.

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Stock Exchange notification from Phillips Carbon

Phillips Carbon Black close to buying Evonik: News roundup MoneyControl (India)

Phillips Carbon gains on overseas buy-out reports Economic Times (India)

Phillips Carbon eyes Evonik's units Times of India (India)

RPG firm in race for Evonik's $1.2-bn carbon black division Business Standard (India)

Phillips Carbon Black to persist with Evonik bid Sify Finance (India)