Chemical giant BASF has agreed to combine its paper and water chemical business with German , in a deal that will see BASF owning 49% 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 ($ $95 billion ). Separately, BASF has revamped its organisation and agreed to buy seed assets from Clayton, Dubilier & Rice , as well as merge its oil and gas business with rival DEA . Private equity would run the business with higher debt and optimised for cash flows and would arrive at a better profitability,” he added. New CEO Akzo Nobel also said the company will keep all divergent businesses under one company.
Chemical giant BASF has agreed to combine its paper and water chemical business with German , in a deal that will see BASF owning 49% of the business and private equity firm Clayton, Dubilier & Rice owning the remainder. No financial details of the transaction were disclosed, but the combined businesses have pro-forma sales of €2.4bn ($ $95 billion ). Separately, BASF has revamped its organisation and agreed to buy seed assets from Clayton, Dubilier & Rice , as well as merge its oil and gas business with rival DEA . New CEO Akzo Nobel also said the company will keep all divergent businesses under one company.