# Celanese and Blackstone to form acetate tow joint venture

Celanese and Blackstone have agreed to form a joint venture combining Celanese's Cellulose Derivatives and Blackstone's Rhodia Acetow businesses. Celanese will own 70% and Blackstone 30%. The JV will distribute $1.6 billion in cash to Celanese at close.

- Type: Acquisition
- Announced: 2017-06-19
- Value: $1.60B
- Status: announced
- Products: acetate tow
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Blackstone Group](https://endata.com/companies/2364.md) (partner)
- [Celanese](https://endata.com/companies/10711.md) (partner)

## Sources

- [blackstone.com](https://www.blackstone.com/news/press/celanese-and-blackstone-to-form-joint-venture-in-acetate-tow/), 2017-06-19: "Celanese and Blackstone will own 70% and 30% of the JV, respectively."
- [cen.acs.org](https://cen.acs.org/articles/95/i26/Celanese-Blackstone-combine-acetate-units.html), 2017-06-26: "The new partnership will be the global leader in cigarette filter materials."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.