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BASF launches sale process for construction chemical business
05 June 2019
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BASF confirms that it has launched a sale process for its
construction chemicals business and started reaching out to
potential buyers. "As planned, we started to contact selected
interested parties," BASF told CW in a statement emailed on Monday.
The company declines to comment "on any further details of the
process or content due to confidentiality," the statement says.
Analysts estimate the sale could be worth €2.7-3.0 billion
($3.0-3.4 billion). BASF announced in October 2018 that it was
evaluating options for its €2.4-billion/year construction chemicals
unit. The company hired Goldman Sachs in February as financial
advisor. BASF said at that time that it was still considering all
options for the construction chemicals business, including a sale
or a merger. Analysts have named GCP Applied Technologies, Henkel,
LafargeHolcim, Mapei, RPM Construction, Saint-Gobain, and Standard
Industries, as well as private equity firms Bain Capital, The
Carlyle Group, Cinven, and KKR as potential buyers of the
business.
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Mar 25
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