An announcement from BASF regarding the closing of the sale of its Construction Chemicals business drew the most reader interest last week (BASF Closes Divestiture of Construction Chemicals Business): “BASF recently announced that it has closed the divestiture of its Construction Chemicals business to an affiliate of Lone Star, a global private equity firm. The purchase price on a cash and debt-free basis is almost €3.2 billion (approximately $3.8 billion). The Construction Chemicals business now forms the newly founded MBCC Group, headquartered in Mannheim, Germany.
“‘Lone Star has been a professional partner in this transaction and is committed to the future success of the business,’ said Saori Dubourg, member of the board of executive directors of BASF SE. ‘We highly appreciate the tremendous efforts to realize the carve-out and close the deal in such a fast and decisive manner. We wish the Construction Chemicals team much success for the future.’
“On December 21, 2019, BASF and an affiliate of Lone Star had signed a purchase agreement for the acquisition of BASF’s Construction Chemicals business. With around 7,500 employees, the Construction Chemicals business operates production sites and sales offices in more than 60 countries and generated sales of about €2.6 billion (~ $3.1 billion) in 2019.”
Top 5 News that Sticks for October 11-17
- BASF Closes Divestiture of Construction Chemicals Business
- Covestro to Acquire DSM’s Coating Resins Business
- H.B. Fuller Joins Amazon Packaging Support and Supplier Network
- Sika Shares Details Regarding COVID-19 Impact and Strategic Targets
- Dow Outlines Details of Restructuring Program #2 last week
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.