German chemical giant BASF has closed the sale of its Construction Chemicals business to Mannheim-based MBCC Group, a newly-established affiliate of equity firm Lone Star. The acquisition is worth €3.17 billion ($3.71 billion) on a cash and debt-free basis. The proceeds from the divestiture will be reflected in BASF’s fourth-quarter financial results. The acquisition affects the division’s 7,500 staff as well as sales offices production bases across over 60 countries. It reported sales of about €2.6 billion last year.
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Published on October 2, 2020 4:06 PM (GMT+8)Last Updated on October 2, 2020 4:06 PM (GMT+8)
