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Industry News
BASF in talks to acquire Cognis
The acquisition would enable BASF to
reduce its dependance on plastics and chemicals made by Middle East
competitors who produce them more cheaply.
BASF is reportedly in talks to
acquire the debt-ridden Cognis, a maker of speciality chemicals
owned by private equity firms Goldman Sachs Group Inc. and Permira
Advisers Ltd, in a deal that may be valued at around €3bn. If the
deal materialises, it would become the second-biggest acquisition
for BASF, after acquiring Swiss rival Ciba for €3.8bn in late 2008.
The acquisition would enable BASF to reduce its dependance on
plastics and chemicals made by Middle East competitors who produce
them more cheaply.
http://www.indiainfoline.com/Markets/News/BASF-in-talks-to-acquire-Cognis/4813581927
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