Lone Star in talks to acquire BASF's chemicals division

BASF confirmed that it is in advanced talks with one party, but declined to comment further.

Sources close to the deal have said that the business is valued at €3bn, according to Reuters.

Unquote sister publication Mergermarket reported that final bids were due by 8 November 2019.

A consortium of Cinven and Bain Capital were also in the final process.

Bidders in the second round of the auction process in June 2019 included Lone Star, Cinven, KKR, Bain Capital and Advent International.

Blackstone and Switzerland-based cement producer LafargeHolcim left the process in July and October 2019 respectively.

In October 2019, Bain and Cinven were considering a joint bid, according to Mergermarket.

BASF began looking for a buyer for its chemicals business at the end of 2018. BASF is a chemicals producer and its construction chemicals business is a producer of chemical additives for concrete.

At the time of publication, Lone Star had not responded to a request for comment.

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• Topics
• Buyouts
• DACH
• Industrials
• Lone Star Funds
• Blackstone Group
• Cinven
• KKR
• Germany
• Advent International
• Bain Capital Europe