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| Degussa sells Construction Chemicals activities to BASF |
Degussa sells Construction Chemicals activities to BASF
03/02/2006 - Degussa AG is selling its Construction Chemicals activities to BASF Aktiengesellschaft, Ludwigshafen. The purchase price for the equity (net purchase price) in the activities that are grouped in the Construction Chemicals reporting segment is EUR 2.2 billion. With the debt to be assumed taken into account, the result is a transaction value of more than EUR 2.8 billion.
The aim is for the transaction, which is still subject to the customary approvals, in particular clearance from the regulatory authorities, to be closed by mid-2006.
In fiscal 2004 the Construction Chemicals activities generated sales of EUR 1.8 billion and an EBIT (earnings before interest and taxes) of EUR 201 million. Sales for the first nine months of 2005 came to EUR 1.5 billion and the EBIT was EUR 174 million. |
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