The acquisition of Cognis Holding GmbH by BASF SE has been approved by the European Commission and Chinese authorities.
The approval is subject to the divestiture of businesses accounting for less than 3 % of Cognis’ total sales, including the the following businesses and assets located at Cognis’ site in Hythe, England:
- the Cognis hydroxy methacrylates business,
- the Cognis multifunctional methacrylates (MFM) and adducts business, and
- plants for the manufacture of polyalkylene glycols (PAG) and PAG-based lubricants.
BASF will receive the customer base and intellectual property rights as well as PAG and PAG-based lubricants manufactured at Cognis’ site in Hythe, England through a toll manufacturing agreement. BASF will grant a license for the manufacture of these products to the purchaser of the plants.
Closing of the transaction is expected in the first half of December.
- BASF SE, Luswigshafen, Germany