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Written by / Agency / Source: BASF
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BASF and Clayton, Dubilier & Rice Close Sale of Solenis to Platinum Equity - Following the approval by all relevant authorities, BASF and Clayton, Dubilier & Rice closed the sale of Solenis to Platinum Equity - CDR-Inc.com / PlatinumEquity.com / Solenis.com / BASF.com
BASF and Clayton, Dubilier & Rice Close Sale of Solenis to Platinum Equity

 

NewswireToday - /newswire/ - Ludwigshafen, Rhineland-Palatinate, Germany, 2021/11/09 - Following the approval by all relevant authorities, BASF and Clayton, Dubilier & Rice closed the sale of Solenis to Platinum Equity - CDR-Inc.com / PlatinumEquity.com / Solenis.com / BASF.com. DE000BASF111

   
 
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The transaction implies an enterprise value for Solenis of $5.25 billion, which includes net debt of around $2.5 billion.

In July 2021, BASF and Clayton, Dubilier & Rice (cdr-inc.com) signed an agreement to sell their shares in Solenis (solenis.com) to Platinum Equity (platinumequity.com), a California-based private equity company founded in 1995. Since February 2019, BASF had held 49% of the shares in Solenis and accounted for its share in the company using the equity method; 51% of the shares had been held by funds managed by Clayton, Dubilier & Rice and the Solenis management. The divestment of its shares in Solenis will be reflected in BASF’s financial reporting on the fourth quarter of 2021 as net income from shareholdings.

With over 5,200 employees, Solenis is serving customers in water-intensive industries by helping them solve complex water treatment and process improvement challenges. In 2019, BASF had transferred its paper wet-end and water chemicals business to Solenis, creating a leading global solutions provider for the paper and water treatment industries. In the fiscal year ending September 30, 2021, the company headquartered in Wilmington, Delaware, USA, generated sales of $3.0 billion.

About BASF

At BASF (basf.com), we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 110,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €59 billion in 2020.

 
 
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Written by / Agency / Source: BASF

 
 

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BASF and Clayton, Dubilier & Rice Close Sale of Solenis to Platinum Equity

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Publisher Contact: Antje Schabacker - BASF.com 
+49 621 60-41706 / +49 173 3797667 antje.schabacker[.]basf.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any BASF securities in any jurisdiction including any other companies listed or named in this release.

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