Chemical giant BASF has agreed to combine its paper and water treatment business with Solenis , in a deal that will see BASF owning 50 % of the business and private equity firm Clayton , Dubilier & Rice owning the remainder . No financial details of the transaction were disclosed , but the combined businesses have pro - forma sales of € 2.4bn ( $ 2.88bn ) . Separately , BASF has revamped its strategy and agreed to buy seed assets from Bayer , as well as merge its oil and gas business with rival DEA . (Repeats Tuesday’s story with no changes to text) New CEO Peter Brudermueller also said the company will keep all divergent businesses under one company .
Chemical giant BASF has agreed to combine its paper and water treatment business with Solenis , in a deal that will see BASF owning 50 % of the business and private equity firm Clayton , Dubilier & Rice owning the remainder . No financial details of the transaction were disclosed , but the combined businesses have pro - forma sales of € 2.4bn ( $ 2.88bn ) . Separately , BASF has revamped its strategy and agreed to buy seed assets from Bayer , as well as merge its oil and gas business with rival DEA . New CEO Peter Brudermueller also said the company will keep all divergent businesses under one company .