August 6, 2019 / 6:43 PM / 18 days ago

DuPont considers sale of nutrition and biosciences unit - Bloomberg

FILE PHOTO: A DuPont logo is pictured on the research center in Meyrin near Geneva August 4, 2009. REUTERS/Denis Balibouse/File Photo - RC12FDE13360/File Photo

(Reuters) - Industrial materials maker DuPont (DD.N) is considering a sale of its nutrition and biosciences unit, Bloomberg reported on Tuesday, citing people familiar with the matter.

The unit, which supplies everything from soy-based food ingredients to tablet binders, could be worth at least $20 billion as a standalone entity, Bloomberg said.

DuPont declined to comment on the unit’s divestiture.

The Wilmington, Delaware-based company said in February that its overall goal was to divest about 10% of its portfolio.

DuPont was a part of DowDupont until a split earlier this year.

The nutrition and biosciences unit, DuPont’s biggest revenue generator in 2018 on a pro-forma basis, was hit by lower sales of food, beverage and pharma solutions in the latest reported quarter, and brought in 4% lower sales than a year earlier.

Reporting by Debroop Roy and Manojna Maddipatla in Bengaluru; Editing by Shinjini Ganguli

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