BASF SE Ludwigshafen acquires Cognis, a specialty chemicals company having its headquarters in Monheim (Rhineland). This was agreed between the world’s leading chemical company and Cognis Holding Luxembourg S.à r.l., which is controlled by Permira Funds, GS Capital Partners and SV Life Sciences.
The equity purchase price is €700 million. Including net financial debt and pension obligations, the enterprise value of the transaction is €3.1 billion. The acquisition is subject to clearance by the competent merger control authorities. Closing of the transaction is expected for November 2010 at the latest.
Cognis employs about 5,500 people, and it operates production sites and service centres in 30 countries. Last year, Cognis had sales of about €2.6 billion.
A Linklaters team led by Dr Eva Reudelhuber (banking, Frankfurt) provided comprehensive advice to the banks involved in the transaction.
The team also included Marc Trinkaus, Judit Körmöczi and Jasmin Dettmar (all banking, Frankfurt).
