BASF Acquires Cognis
23 June 2010 LUDWIGSHAFEN, Germany – BASF SE has reached an agreement with Cognis Holding Luxembourg S.à r.l. controlled by Permira Funds, GS Capital Partners and SV Life Sciences to acquire Cognis, a specialty chemicals company. While the equity purchase price will be $860 million, the enterprise value — which includes net financial debt and pension obligations — is $3.8 billion. The transaction, subject to clearance by merger control authorities, is expected to close by November 2010.
Cognis operates production sites and service centers in 30 countries and had 2009 sales of about $3.2 billion and an EBITDA (earnings before interest, taxes, depreciation and amortization) of $396 million.
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