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IMC Global denies talks with Citicorp Venture Capital

7 October 1998: US-based chemicals firm IMC Global said it is considering options for sections of IMC Chemicals, but has denied that it is involved in talks with Citicorp Venture Capital (CVC).
The …

7 October 1998: US-based chemicals firm IMC Global said it is considering options for sections of IMC Chemicals, but has denied that it is involved in talks with Citicorp Venture Capital (CVC). The company said it has not yet decided how the soda ash, sodium bicarbonate and boron activities that it acquired from Harris in 1997 would fit into the existing business. It also said that it has not dismissed a sell-off, but has denied the CVC rumours. Reports say that IMC has been burdened with debt following the Harris acquisition, and that its chemical operations have been underperforming.

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