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BASF completes Cognis acquisition

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By: KERRY PIANOFORTE

Editor, Coatings World, Coatings World

BASF has completed its acquisition of Cognis Holding GmbH from Cognis Holding Luxembourg S.à r.l. controlled by Permira Funds, GS Capital Partners and SV Life Sciences. The equity purchase price was €700 million. Including net financial debt and pension obligations, the enterprise value of the transaction is €3.1 billion.

“Cognis’ and BASF’s know-how and range of products complement each other very well,” said Jürgen Hambrecht, chairman of BASF’s Board of Executive Directors. The combination will broaden our portfolio of specialty chemicals and boost innovation for our customers.”
    
According to the company, through the purchase of Cognis, BASF will achieve a leading position in personal care ingredients, strengthen its leading position in value-added products for home care, establish a strong position in human nutrition and further strengthen its position in pharma excipients. BASF will also be able to offer customers of the Performance Chemicals and Dispersions & Pigments divisions an even more attractive portfolio. The acquisition will in particular expand BASF’s portfolio with products based on renewable raw materials.
    
BASF intends to fully integrate Cognis into the BASF Group. Detailed integration plans will be developed by the end of the first quarter of 2011. Completion of the structural integration is targeted for the end of 2011.

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