JP Morgan has become the latest bank to advise Degussa, the German speciality chemicals company, on a €265m ($237m) sale, but up to €1bn worth of disposals are still on the cards for other banks to advise on.

JP Morgan advised Degussa on the sale of its gelatines unit to Sobel, a Dutch company specialising in products for organic feed, foods and pharmaceuticals products as well as healthcare products. This is JP Morgan's second sale mandate for Degussa as the German company comes near to successfully completing an ambitious disposal programme, kicked off last April by JP Morgan handling the €422m sale of its Phenolchemie business.