BASF to Acquire Cognis for euro3.1 Billion

摘要

BASF has agreed to acquire Cognis from its private equity owners in a deal valued at E3.1 billion ($3.8 billion). BASF continues the shift of its portfolio downstream toward customer-oriented specialty businesses less vulnerable to economic cycles with the deal, and boosts its position in personal care, home care, health and nutrition, and functional products. The Cognis businesses will be integrated into BASF's performance products segment, which had sales of 9.4 billion in 2009. Cognis is the global leader in personal care ingredients, a market in which BASF is currently the third-biggest player. BASF has expanded its specialties portfolio with a string of major acquisitions under the leadership of Hambrecht, who is due to retire next year.