Avient Corp to buy DSM business unit for $1.5 bln | Mount Equity Group Tokyo Japan

U.S. dollar banknotes are displayed in this illustration taken, February 14, 2022. REUTERS/Dado Ruvic/File Photo

April 20 (Reuters) – Specialized polymer materials maker Avient Corp (AVNT.N) said on Wednesday it has entered into an agreement with DSM (DSMN.AS) to buy its material division for $1.48 billion.

The proposed sale of DSM’s Protective Materials business comes after the Dutch specialty chemicals maker’s announcement last year about exploring an exit for the division as it aimed at making sustainable food and health products.

Avient’s potential purchase deal includes all of DSM’s Protective Materials activities, mainly consisting of Dyneema, DSM said in a separate statement, adding that the unit accounted for 335 million euros ($362.34 million) of the company’s total annual net sales in 2021.

Financing for…