The Austrian oil and gas group OMV is going to bid for the materials branch of specialty chemicals company DSM.
The company announced that it would participate in the second round of the auction of that part that was put up for sale by DSM last September. This part makes materials for the car industry, but also for construction. DSM wants to focus more on food ingredients and supplements.
Offer
In addition to OMV, the American industrial group Koch Industries would also like to bid, according to Bloomberg news agency, which relies on insiders. The German chemical company Lanxess would like to bid together with investor Advent International and investment fund SK Capital would also like to buy the business unit.
super fiber
The materials branch of DSM could generate more than 3 billion euros, experts expect. Last month, the Dutch specialty chemicals company already sold a part that makes protective materials such as super strong fibres. The American Avient paid 1.4 billion dollars for this.
Also read: DSM sells super fiber for 1.4 billion