July 10, 2018 / 2:19 PM / 2 months ago

Evonik launches auction for its acrylic sheet ops -sources

FRANKFURT, July 10 (Reuters) - Evonik has launched an auction for its methacrylates plastics unit, which makes clear acrylic sheet, people close to the matter said.

The German chemicals group had unveiled plans in March to divest the business as it looks to focus on faster-growing sectors such as feed additives and rubber silica for tyres.

Evonik and its advisor Barclays have started sending out first information packages to prospective bidders for the unit, which is seen fetching around 2.5-3 billion euros ($2.9-$3.5 bln), the people said.

Potential suitors are to receive detailed information after the summer, and first bids for the unit several weeks after that, they added. ($1 = 0.8538 euros) (Reporting by Arno Schuetze and Matthias Inverardi Editing by Maria Sheahan)

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