Dusseldorf (ots) - Degussa AG, Dusseldorf, today completed the sale of its Construction Chemicals activities to BASF AG, Ludwigshafen. The purchase price has been paid, and amounts to EUR 2.2 billion for the equity (net purchase price). With the debt to be assumed taken into account, the result is a transaction value of more than EUR 2.8 billion.
Over the previous years Degussa had developed its Construction Chemicals activities to form the leading company in the industry worldwide with an attractive rate of return. However, the opportunities for continuing to increase the rate of return and adding further value within the Group had largely been exhausted. Against this background, the Degussa Management Board decided to sell Construction Chemicals and to no longer run the business itself.
In fiscal 2005, the activities of Degussa that are grouped in its Construction Chemicals reporting segment generated earnings before interest and taxes (EBIT) of EUR 223 million (fiscal 2004: EUR 201 million) on sales of EUR 2 billion (fiscal 2004: EUR 1.8 billion).
Degussa is the global market leader in specialty chemicals. Our business is creating essentials-innovative products and system solutions that make indispensable contributions to our customers' success. In fiscal 2005 around 44,000 employees worldwide generated sales of 11.8 billion euros and operating profits (EBIT) of 940 million euros.
Contact: Hannelore Gantzer Spokeswoman Corporate Communications T +49-211-65041-368 F +49-211-65041-527 hannelore.gantzer@degussa.com
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