Celanese sells additional 19% stake in Nutrinova JV to Mitsui
- Mitsui will acquire an additional 19% of Nutrinova from Celanese for approximately $152 million in cash.
- Celanese will retain an 11% interest in the joint venture and monetized an asset that generated about $4 million of equity earnings in 2025.
- Proceeds will be used to reduce net debt as part of Celanese’s deleveraging plan and to pay down upcoming debt maturities; closing expected in the fourth quarter.
- Celanese will own and operate a diketene production facility at Industriepark Höchst on a transitional basis, with Nutrinova providing the purchase price and future operating cash.
Deal overview
Celanese signed a definitive agreement to sell an additional 19% of its Nutrinova food ingredients joint venture to Mitsui & Co., Ltd. for total cash proceeds of approximately $152 million. The company will retain an 11% interest in the JV. The transaction is expected to close in the fourth quarter and is subject to customary legal and regulatory closing conditions.
Financial and strategic rationale
Celanese characterised the sale as an attractive realization of value, noting the monetized interest generated roughly $4 million of equity earnings in 2025. Proceeds will be applied immediately to reduce net debt as part of the company’s deleveraging plan and to pay down upcoming debt maturities, supporting its target of $1 billion in divestiture proceeds by end of 2027.
Transitional operations and supply
As part of the transaction, Celanese agreed to own and operate a diketene production facility co-located with the Nutrinova site in Industriepark Höchst for a transitional period before transfer to Nutrinova. Nutrinova will provide Celanese with the facility’s purchase price and all future cash required for its ongoing operating costs; Celanese is not obligated to fund the unit but will supply process chemists, operators and maintenance personnel to operate the asset reliably.
Partnership and advisers
Nutrinova cited Celanese’s experience operating complex chemical manufacturing assets in the transitional arrangement. Celanese was advised by Linklaters LLP as legal counsel and A&O Shearman as tax counsel on the transaction.
Source: Celanese
