Germany’s BASF and private equity firm Lone Star are reportedly in exclusive negotiations for the sale of the former’s construction chemicals business, according to Bloomberg. Estimations have placed the unit at a value of around EUR3bn.
In 2007 BASF acquired the business from Degussa, predecessor to Evonik, for EUR2.7bn but put the business up for sale last year. Following talks with LafargeHolcim, Cinven, which owns Chryso, and Bain Capital, owner of MKM, were both said to be in the running. Lone Star already owns Germany-based building materials producer Xella.
