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BASF plans asset sale to save Solvay deal

Jan 09, 2019 - Marketline Newswire
Mergers and Acquisitions

German firm BASF is reportedly planning to sell a significant portion of its assets in order to close its 1.6bn acquisition of Solvay's polyamide business.

BASF is currently working with investment bank Lazard to find a suitable buyer for the assets, sources told Reuters.The prospective sale value is estimated at nearly €450m, including debt.Furthermore, the sources said that BASF sent the details of the sale to the potential acquirers last month, with initial bidding expected by the ...