BASF has announced that it has agreed to sell its construction chemicals business to private equity firm Lone Star.The purchase price on a cash-and debt-free basis is €3.17 billion ($3.55 billion).The transaction is expected to close in the third quarter of 2020,subject to approval from the relevant competition authorities.The business employs more than 7,000 people and operates production sites and sales offices in more than 60 countries.It generated 2018 sales of about €2.5 billion."Our aim was to find a new home for our construction chemicals business where it can leverage its full potential.Under the umbrella of Lone Star,the construction chemicals team can focus on a growth path with an industry-specific approach,"says Saori Dubourg,BASF board member responsible for construction chemicals.
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