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Specialty Chemicals

BASF finds private equity buyer for construction chemicals

by Michael McCoy
January 3, 2020 | A version of this story appeared in Volume 98, Issue 1

 

A photo of technicians in a BASF construction chemicals lab in India.
Credit: BASF
Technicians in a BASF construction chemicals lab in Mumbai

Completing a yearlong auction process, BASF has agreed to sell its construction chemical business to the private equity firm Lone Star for about $3.6 billion. With more than 7,000 employees and annual sales of about $2.8 billion, the business produces chemicals and other materials used in the construction industry. BASF is also in the process of selling another noncore business—pigments—to Japan’s DIC for $1.3 billion.

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