DuPont, Koch subsidiaries to accelerate Invista sale

The KED Fiber Ltd. and KED Fiber LLC subsidiaries of Koch Industries have advised DuPont that they intend to accelerate the closing of the sale of Invista to April 30. DuPont and the Koch companies also have agreed to an amendment of the purchase agreement, adjusting the sale price to $4.2 billion, including the assumption of debt and certain joint venture and equity interests covered under a non-binding letter of intent. No further details were disclosed.

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.