BASF began in January with the sales process for the construction rescue center business in Brazil announced at the end of September.
This was announced by a company spokeswoman. In addition, the group is “checking further strategic options for our coating business as a whole”. This exam includes “potential partnerships or different owner structures”, as mentioned at the Capital Markets Day at the end of September.
Previously, the Frankfurter Allgemeine Zeitung (FAZ) had reported with reference to informants that the chemical company had launched the sale of its billion-dollar color and paint business and heralded the first round of bidding for the consumer wall and door painting. According to the FAZ, information material has been sent to interested parties, so -called teasers. The deadline for non -binding first offers run in the second half of February.
According to the FAZ, business in Brazil is likely to be rated with a billion dollar amount. According to the newspaper, the sale is prepared for the much larger remaining savings section. The company is expected to go to the market in the second quarter. JP Morgan and Bank of America are mandated as consultants. Both rejected a comment over the FAZ.
According to the FAZ, BASF’s Coatings area without building colors has been assessed in an investor study by JP Morgan at 5.75 billion euros, the building colors at 900 million euros. The sales price is likely to be considerably higher because bidders usually pay a surcharge in such a auction.
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