Mitsui & Co completed the acquisition of the remaining 70% stake in Nutrinova from Celanese for $473m.

Mitsui & Co, a business conglomerate, completed the acquisition of the remaining 70% stake in Nutrinova, a food ingredients business, from Celanese, a chemical and specialty materials company, for $473m. “We are pleased to have monetized a majority of the Food Ingredients business in a value accretive way and also maintained the demand benefits of raw material integration with the Acetyl Chain. We will immediately deploy transaction proceeds in the third quarter to execute against our deleveraging plan and are on pace to meaningfully exceed the full year objective to reduce net debt by $1bn in 2023," Lori Ryerkerk, Celanese Chairman and CEO.