BASF SE has reached an agreement with Cognis Holding Luxembourg S.à r.l. to acquire the specialty chemicals company Cognis for an equity purchase price of 700 million euros. Including net financial debt and pension obligations, the enterprise value of the transaction is 3.1 billion euros. 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 is a worldwide supplier of innovative solutions and products based on renewable raw materials for the health and nutrition market as well as the cosmetics, detergents and cleaners industries. Another main focus is on products for a number of other industries, such as mining, lubricants, coatings as well as agriculture.