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Cognis Owners Decide to Sell Shares to BASF
Cognis Holding Luxembourg S.ид r.l., controlled by Permira Funds, GS Capital Partners and SV Life Sciences, signed a sale and purchase agreement to sell 100 percent of the shares in Cognis Holding GmbH to BASF SE on June 22. The enterprise value is 3.1 billion euros; the transaction is subject to the usual closing conditions, including regulatory approval, and is expected to be formally completed at the latest by November 2010.
"Cognis has performed very well over the last years, and is well positioned in attractive growth markets. The transaction combines expertise and synergies in technologies, innovations and market know-how. This will allow the leveraging of business opportunities and provide a comprehensive range of products and solutions for customers," says Cognis CEO Antonio Trius. We also believe that Cognis' excellent market position and clear focus on the trends wellness and sustainability, especially our green products, make a perfect strategic fit."
Cognis employs about 5,500 people, and operates production sites and service centers in 30 countries. In 2009, it recorded sales of about 2.6 billion euros and an Adjusted EBITDA (operating result) of 364 million euros.
Date Posted: June 29, 2010
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