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Issue 2 2017 - Evonik acquires the Air Products Specialty Additives business

 Last Update: 2022-11-11
 Source: Internet
 Author: User

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Evonik's acquisition of Air Products' specialty additives business Evonik has been approved by the relevant antitrust authorities for $3.
8 billion (approximately EUR 3.
5 billion) to acquire Air Products' specialty additives business
, and the integration of all acquisitions is underway
.
Financing for the transaction was secured in September last year, including €1.
6 billion of the company's own funds and €1.
9 billion of debt financing
.

"The successful completion of the acquisition lays the foundation for the rapid integration of Evonik's related businesses with Air Products' Performance Materials division, which enables Evonik to achieve further profitable growth
in the attractive specialty additives market," said Evonik Chairman Inkers.
"
Evonik expects the transaction to generate annual synergies of $80 million per year for Evonik by 2020 at the latest, 10 million ~ 20 million euros in 2017, and higher
earnings per share (EPS) for fiscal 2017.

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