BASF plans asset sale to save Solvay deal

Chemicals Technology | January 09, 2019

German firm BASF is reportedly planning to sell a significant portion of its assets in order to close its €1.6bn acquisition of Solvay’s polyamide business. BASF is currently working with investment bank Lazard to find a suitable buyer for the assets, sources told Reuters. The prospective sale value is estimated at nearly €450m, including debt. Furthermore, the sources said that BASF sent the details of the sale to the potential acquirers last month, with initial bidding expected by the end of this month. BASF and Lazard declined to comment on the move, the news agency added. In September 2017, BASF signed an agreement to acquire Solvay’s integrated polyamide business to bolster its engineering plastics portfolio.

Spotlight

Chemicals are part of our daily lives. Some chemicals are manufactured for specific uses, while others are unwanted products of various processes, and some are of natural origin. Harmful exposure may occur through breathing, drinking, eating or contact. Several sectors and programmes have a role to play in preventing human exposure to chemicals and promoting their sound management throughout their life cycle. The health sector in particular needs to strategically engage in various areas in order to minimize the adverse effects of chemicals.

Spotlight

Chemicals are part of our daily lives. Some chemicals are manufactured for specific uses, while others are unwanted products of various processes, and some are of natural origin. Harmful exposure may occur through breathing, drinking, eating or contact. Several sectors and programmes have a role to play in preventing human exposure to chemicals and promoting their sound management throughout their life cycle. The health sector in particular needs to strategically engage in various areas in order to minimize the adverse effects of chemicals.

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