BASF acquires Cognis for €700m

Published: 23-Jun-2010

Speciality chemicals company owners sell shares to BASF


Following months of speculation, Cognis Holding Luxembourg – controlled by Permira Funds, GS Capital Partners and SV Life Sciences – has agreed to sell all shares in Cognis Holding GmbH to BASF SE for €700m. Including net financial debt and pension obligations, the transaction’s enterprise value is €3.1bn.

The transaction will enable BASF to strengthen its portfolio and expand its position as the world’s leading chemical company, according to BASF SE’s chairman of the board of executive directors Dr Jürgen Hambrecht.

“Cognis has performed very well over the last years and is well positioned in attractive growth markets,” said Cognis ceo Antonio Trius. “Cognis’ excellent market position and clear focus on the trends of wellness and sustainability, especially our green products, make a perfect strategic fit.”

Subject to the usual closing conditions, including regulatory approval, the transaction is expected to be formally completed before November 2010.

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