DuPont says Performance Chemicals spin on track for mid 2015 DuPont in conference presentation slides says it is on track to complete its Performance Chemicals separation about mid 2015. The company said new legal entity structures are being created with day One operating plans being finalized. It added that standalone financial statements are being prepared and targets initial regulatory filings in Q4. Bloomberg reports that DuPont CFO Nicholas Fanandakis said the company is considering a Reverse Morris Trust or direct sale of its Performance Chemicals unit in lieu of a spin-off, but that both of those paths have hurdles.
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Carlyle hires firms for Axalta IPO, Reuters says Carlyle Group (CG) gave Citigroup (C) and Goldman Sachs (GS) leading positions in the possible IPO of Axalta Coating Systems just eighteen months after it acquired the firm from DuPont (DD) for $4.9B, according to Reuters, citing people familiar with the matter. One of the sources said that the IPO could bring in nearly $1B. Reference Link