On Nov. 17, 2003, DuPont announced that it had reached a definitive agreement to sell Invista to subsidiaries of Koch Industries for $4.4 billion that also included assumption of debt and certain joint venture and equity interests covered under a non-binding letter of intent. At the time, closing of the transaction was expected by June 30, 2004.
"We are very pleased to have reached final agreement on this enormously complex commercial and financial transaction," said Gary M. Pfeiffer, DuPont chief financial officer. "We are pleased to have a specific target date for closing. We believe this transaction positions DuPont to create outstanding value for our shareholders."