BASF signs deal to buy out Cognis
Source: Agencies |
June 24, 2010, Thursday
|
Print Edition
Print Edition
CHEMICAL company BASF SE said yesterday it has agreed to acquire Cognis, a supplier of raw materials for cosmetics, detergents and cleaners, for 700 million euros (US$858 million) in cash.
Including net financial debt and pension obligations, the enterprise value of the transaction is 3.1 billion euros, the company said. The closing of the transaction is expected for November 2010.
"With the acquisition of Cognis ... we are further expanding our position as the world's leading chemical company," said Juergen Hambrecht, the chairman of BASF's board.
Cognis employs about 5,500 people and operates in 30 countries. Besides chemicals, it also makes coatings and inks, lubricants, and products for mining.
Including net financial debt and pension obligations, the enterprise value of the transaction is 3.1 billion euros, the company said. The closing of the transaction is expected for November 2010.
"With the acquisition of Cognis ... we are further expanding our position as the world's leading chemical company," said Juergen Hambrecht, the chairman of BASF's board.
Cognis employs about 5,500 people and operates in 30 countries. Besides chemicals, it also makes coatings and inks, lubricants, and products for mining.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
