BASF closes divestiture of its Construction Chemicals business
At the end of September, BASF 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 € 3.17 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.”
The divestment of the assets and liabilities of the Construction Chemicals business and the related disposal gain will be reflected in BASF’s financial reporting in the fourth quarter of 2020.
In December 2019, BASF and an affiliate of Lone Star had signed a purchase agreement for the acquisition of BASF’s Construction Chemicals business. With around 7500 employees, the Construction Chemicals business operates production sites and sales offices in more than 60 countries and generated sales of about € 2.6 billion in 2019.
