Readers were drawn to another big divestment last week, as BASF announced an agreement to sell its Construction Chemicals Business (Lone Star Funds to Acquire BASF’s Construction Chemicals Business): “BASF and an affiliate of Lone Star, a global private equity firm, recently signed a purchase agreement for the acquisition of BASF’s Construction Chemicals business. The purchase price on a cash and debt-free basis is €3.17 billion (approximately $3.5 billion). The transaction is expected to close in the third quarter of 2020, subject to the approval of the relevant competition authorities.
“‘Our aim was to find a new home for our Construction Chemicals business where it can leverage its full potential,’ said Saori Dubourg, member of the board of executive directors of BASF SE and responsible for the Construction Chemicals business. ‘Under the umbrella of Lone Star, the Construction Chemicals team can focus on a growth path with an industry-specific approach.’
“‘BASF’s Construction Chemicals business fits very well with our portfolio, complementing our investments in the construction materials industry,’ said Donald Quintin, president of Europe at Lone Star. ‘We highly value the industry-wide recognized knowledge and competence of BASF’s Construction Chemicals experts, backed by a strong track record in innovative products and a compelling R&D pipeline. We look forward to jointly pursuing a growth-oriented business approach.’”
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Top 5 News that Sticks for January 5-11
Lone Star Funds to Acquire BASF’s Construction Chemicals Business
#4 last week
- Ashland Announces New Specialty Additives and Adhesives Business Leaders
- Construction and Automotive Industries to Drive Strong Global Isocyanates Demand
3M to Divest Substantially All of Its Drug Delivery Business to Altaris Capital Partners
#1 last week
- Chemours Sells Methylamines Business Unit to Belle Chemical
This weekly roundup highlights the adhesives, sealants, and coatings-related news stories that garnered the most attention during the previous week on our website, as well as our eNewsletters and social media platforms.