Celanese Sells Additional Stake in Nutrinova for $152 Million to Fund Deleveraging
Celanese Corporation (NYSE:CE) has agreed to sell an additional 19% stake in its joint venture, Nutrinova, to Mitsui & Co., Ltd. for approximately $152 million in cash. The transaction is expected to close by the end of this year and will reduce Celanese’s ownership from 30% to 11%. This sale aligns with Celanese's broader strategy to generate up to $1 billion through asset sales by the end of 2027, aiming to reduce debt and improve financial flexibility. The stake being sold generated about $4 million in equity earnings in 2025. The high valuation multiple—38 times that contribution—suggests Celanese is securing a premium for this non-core asset. Proceeds from the sale will be used to pay down debt, fund upcoming maturities and support its deleveraging goals. Combined with an earlier $500 million divestiture of Micromax, these transactions now total around $652 million or 65% toward Celanese’s target. However, the transaction is relatively small compared to Celanese's overall debt burden—$11.3 billion in non-GAAP net debt at year-end 2025—with a goal of reducing it below $9 billion by late 2027.
Tickers: $CE
Topics: deleveraging divestiture Nutrinova