BASF SE has reached an agreement with Cognis Holding Luxembourg S.à r.l. to acquire Cognis for an equity purchase price of €700 million (approximately $860 million).
BASF SE has reached an
agreement with Cognis Holding Luxembourg S.à r.l. (controlled by Permira
Funds, GS Capital Partners and SV Life Sciences) to acquire Cognis for an
equity purchase price of €700 million (approximately $860 million). Including
net financial debt and pension obligations, the enterprise value of the
transaction is €3.1 billion ($3.81 billion). The acquisition is subject to
clearance by merger control authorities, and the transaction is expected to be
completed by November 2010.
“With the acquisition of
Cognis, we are strengthening our portfolio with cyclically robust and
profitable businesses and further expanding our position as the world’s leading
chemical company,” said Jürgen Hambrecht, Ph.D., chairman of BASF SE’s board of
executive directors .
“With the support of our
owners Permira Funds and CS Capital Partners, we have become a leading
innovative supplier of specialty chemicals,” said Antonio Trius, Ph.D., Cognis’
CEO. “In particular, our focus on wellness and sustainability and our expertise
in renewable raw material-based products have been our main success factors. We
are convinced that there are excellent opportunities through combining the
strengths of Cognis and BASF.”
For more information on Cognis,
visitwww.cognis.com.
For more information on BASF,
visitwww.basf.com.
BASF Reaches Agreement to Purchase Cognis
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