Covestro agreed to a purchase price of approximately €1.6 billion (~ $1.9 billion), which will be financed through a combination of equity and debt instruments.
Covestro recently announced that it has signed an agreement to acquire the Resins & Functional Materials business (RFM) of Royal DSM. By expanding its portfolio in the growth market for sustainable coating resins, Covestro reports that it is taking a significant step in its long-term corporate strategy to strengthen its sustainable and innovation-driven businesses.
Adding about €1 billion (approximately $1.2 billion) in revenues, the integration of RFM is reportedly a substantial strategic growth opportunity to expand revenues of the Coatings, Adhesives, Specialties (CAS) segment of Covestro by more than 40% to about €3.4 billion (~ $4 billion). Covestro agreed to a purchase price of approximately €1.6 billion (~ $1.9 billion), which will be financed through a combination of equity and debt instruments.