# Celanese sells 45% stake in Polyplastics to Daicel for $1.575 billion

Celanese Corporation announced on July 20, 2023, that it has reached a final agreement to sell its 45% stake in the Polyplastics joint venture to Daicel Corporation for $1.575 billion. After completion, Daicel will own 100% of Polyplastics.

- Type: Acquisition
- Announced: 2023-07-20
- Value: $1.57B
- Status: announced
- Products: acetyl copolymer (POM), liquid crystal polymer (LCP), polyphenylene sulfide (PPS)
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Celanese](https://endata.com/companies/10711.md)
- [Polyplastics Co.](https://endata.com/companies/23089.md) (target)
- [Daicel Corp.](https://endata.com/companies/23091.md) (acquirer)

## Sources

- [haythink.com](https://www.haythink.com/celanese-will-sell-its-45-stake-in-polyplastics-to-daicel-corporation-for-us1-575-billion/), 2024-01-15: "We plan to use this opportunity to monetize historical passive investments and allocate a large amount of capital to high-growth businesses in Celanese."

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