BASF India announced that its parent company, BASF SE, Germany has signed a Purchase Agreement with an Affiliate of Lone Star, a global private equity player, for acquisition of BASF's Construction Chemicals
Business. The purchase price on a cash and debt free basis is EUR 3.17 billion. The transaction is expected to close in the third quarter of 2020, subject to approval of the relevant competition authorities.
BASF's Construction Chemicals business operates production sites and sales offices in more than 60 countries and generated sales of about EUR 2.5 billion in 2018, with more than 7000 employees worldwide. In India, the construction chemicals business, which forms part of the Surface Technologies segment, has generated sales of Rs. 484 crore for the year ended 31 March, 2019.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
