Dussur, U.S.-China Green Investment Management Ltd. and BroadPeak Global LP entered into a definitive agreement to acquire Clean Technologies Business from DuPont de Nemours, Inc. (NYSE:DD) for approximately $510 million in January 2021. The consideration will be paid in cash. Tensile Capital Management LP is providing preferred equity financing and Credit Suisse AG Singapore branch provided committed debt financing for the transaction. The transaction is subject to customary closing conditions and regulatory approvals. The transaction is expected to close in the second quarter of 2021.

Deutsche Bank Securities Inc. acted as financial advisor to the buyers. William J. Benitez, Yang Zhao, William Dong, Bill Benitez, Matt Nadworny, Manas Chandrashekar, Mario Mancuso, Mark Dundon, Bill Dong and Erik Shoemaker of Kirkland & Ellis LLP acted as legal advisors to the buyers. Renad Younes and Andrew Steele of Shearman & Sterling LLP and Powell, Matthew of Squire Patton Boggs acted as legal advisors to Dussur. Centerview Partners LLC acted as financial advisor to DuPont and Ballard Spahr LLP acted as legal advisor to DuPont.

Dussur, U.S.-China Green Investment Management Ltd. and BroadPeak Global LP completed the acquisition of Clean Technologies Business from DuPont de Nemours, Inc. (NYSE:DD) on December 31, 2021. Following the acquisition, DuPont Clean Technologies was officially renamed Elessent Clean Technologies, which will operate as a stand-alone company.