The completion of the merger between BASF's and Solenis' paper and water chemicals business moves closer. The European Commission has approved the deal.
The European Commission has approved the establishment of a joint venture between chemical firms BASF and Solenis. The two companies plan to combine their global paper and water chemicals business.
BASF will retain 49% of the joint venture headquartered in Wilmington/ Delaware, USA, which will operate on the market under the name of Solenis. 51% of the joint venture's shares will be held by private equity funds managed by Clayton, Dubilier & Rice.
The transaction covers BASF's global Wet End paper and water chemicals business which generated sales of roughly €800m in 2017. The business operates six production sites in the UK, the US, Mexico, India and Australia
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