Exclusive: Lone Star to enter exclusive talks to buy BASF's construction chemicals unit – sources

This post was originally published on this site


By Arno Schuetze

FRANKFURT (Reuters) – BASF (DE:) has picked Lone Star to exclusively negotiate the sale of its construction chemicals business to the buyout group, as the German chemicals company seeks to focus on more profitable operations, people close to the matter said.

The private equity firm vied with a consortium comprising buyout groups Cinven – which owns peer Chryso – and Bain for the world’s largest maker of chemical additives for concrete, they said.

A BASF spokesman confirmed it was now only talking with one bidder but declined to comment further.

Lone Star declined to comment.

Financial details of the potential deal have not emerged, but sources close to the matter have said in the past that they expect the unit to be valued at around 3 billion euros ($3.3 billion).

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.