Evonik Said to Fetch More Than $1.2 Billion for Carbon Black

Evonik Industries AG, Germany’s largest specialty chemicals maker, may fetch more than 900 million euros ($1.2 billion) for its carbon black business, four people with knowledge of the situation said.

Potential buyers submitted initial offers on Jan. 12, and a sale may be completed by the end of February, said the people, who declined to be identified because the process is private. Potential bidders include Advent International Corp., Triton Beteiligungsberatung GmbH, Rhone Capital LLC and Apollo Management LP, according to two of the people.