Celanese Corporation (NYSE:CE) agreed to sell another 19% of the Nutrinova food-ingredients joint venture to Mitsui & Co., Ltd. for approximately $152 million in cash. The transaction, expected to close in the fourth quarter subject to customary conditions, will reduce the retained interest of Celanese Corporation (NYSE:CE) from 30% to 11%.
The interest being sold generated approximately $4 million of equity earnings in 2025. The consideration therefore equals about 38 times that contribution, suggesting Celanese Corporation (NYSE:CE) is receiving a strong price for a noncore holding. The proceeds will reduce debt, fund upcoming maturities, and count toward the goal of Celanese Corporation (NYSE:CE) to generate $1 billion from divestitures by the end of 2027.
The disclosed economics favor the sale. Paying $152 million for an interest that generated $4 million of equity earnings implies an earnings yield of only about 2.6% for the buyer. Celanese Corporation (NYSE:CE) is exchanging a relatively small earnings contribution for immediate debt-repayment capacity and potential interest savings.
Celanese Corporation (NYSE:CE) also retains 11% of Nutrinova, preserving some participation if the food-ingredients venture expands. Under the related diketene-facility arrangement, Nutrinova will cover the facility's full purchase price and ongoing operating costs. Celanese Corporation (NYSE:CE) has no funding obligation, limiting capital exposure while retaining an economic interest.
Combined with the completed $500 million Micromax divestiture, the latest transaction would bring the combined announced transaction values of the two deals to approximately $652 million. That would represent about 65% of the $1 billion divestiture objective.

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