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paLudwigshafen
The world's largest chemical company, BASF , finally parted ways with the water treatment business. The company announced on Tuesday that it would sell its 49 percent stake in US specialty chemicals company Solenis.
More than a billion dollars gross could flow into the BASF coffers from the deal : Solenis is valued at a total of 5.25 billion dollars (around 4.4 billion euros), which includes debts of 2.5 billion dollars.
Together with the co-owner Clayton Dubilier & Rice (CD&R), an agreement to sell Solenis to the US financial investor Platinum has been signed, the Dax group announced. Solenis primarily manufactures water treatment chemicals and had sales of $ 2.8 billion in 2020.
The US company was created two years ago from the merger of the water chemistry division of BASF and a participation by CD&R . Since then, the Germans have held almost half of the shares. But even then it became clear that BASF would not hold on to the business for long.
