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BASF and Solvay have signed an agreement to sell their entire polyamide business to BASF, which will be integrated into
BASF's Performance Materials and Monomer business unit.
The transaction will be priced at €1.
6 billion for cashless and debt-free purchases.
Subject to applicable law, the planned transaction will be subject to negotiation with the relevant Solvay-related social groups, after which the two companies will enter into a binding purchase agreement
.
After obtaining regular regulatory approvals and formal consent from the joint venture partners, Solvay and BASF hope to close the transaction
in the third quarter of 2018.
The partner has undertaken to give consent
subject to the (mutual) delivery of definitive documents with BASF.
The acquisition will complement BASF's engineering plastics portfolio and expand the company's position
as a solution provider in the transportation, construction, industrial applications and consumer industries.
For all regions, the transaction will help BASF further enter the important growth markets
of Asia and South America.
At the same time, the acquisition will strengthen BASF's polyamide 6.
6 value chain
by increasing polymerization capacity and integrating ADN (adiponitrile), a key upstream raw material.
