Blackstone seeks to take Celanese public again.(Blackstone Group L.P. files for initial public offering of its acquired stakes in Celanese Corp.)

The Blackstone Group (New York) has filed with the SEC to raise up to $750 million from an initial public offering (IPO) of part of its stake in Celanese, just seven months after taking the company private. The filing gives no time frame for the IPO. Blackstone acquired an 84% stake in Celanese, valued at C3.1 billion ($3.8 billion) including debt, following a tender offer for the company earlier this year (CW,, April 7, p. 11). Investors who refused to tender shares hold most of the remainder. Celanese posted sales of 54.6 billion in 2003, and it has strong market positions in acetyls, acetate, engineering plastics, and food ingredients.

Proceeds from the IPO will be …