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BULLETIN: DuPont (E.I.) De Nemours & Co. Agrees to Sell Invista Nov 03
Standard & Poors, Nov 2003
Abstract
NEW YORK (Standard & Poor's) Nov. 17, 2003--Standard & Poor's Ratings Services said today that E.I. DuPont de Nemours & Co.'s (AA-/Negative/A-1+) announcement that it has reached a definitive agreement to sell Invista, formerly DuPont Textiles & Interiors, to Koch Industries Inc. does not affect its ratings or outlook on the company. The sales price is $4.4 billion (within expectations) and the transaction is expected to close in the first half of 2004. The sale of Invista represents the latest step in DuPont's multiyear transformation of its business portfolio, highlighted by the divestiture of DuPont Pharmaceuticals, the split-off of Conoco Inc., and acquisitions in the agricultural sector and key chemical areas. Although the company's profile will be impacted somewhat by...
Companies mentioned in this report are: DuPont (E.I.) De Nemours & Co.,Koch Industries Inc.
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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