Bloomberg quoted anonymous sources saying Germany’s Lanxess has teamed up with private-equity firm Apollo Global Management to bid for AkzoNobel’s $ 10 billion specialty chemicals business.
Reported that Germany’s LANXESS competed with teams including CVC Capital Partners, KKR, Advent International and Bain Capital; in addition, Carlyle Group and Blackstone Group will conduct Bid separately.
Traders report that at the EGM held on November 30 this year, Akzo Nobel shareholders approved the separation of their specialty chemicals business as part of their strategy to create a focused and efficient business: paints and coatings Business and Specialty Chemicals Business.
Data show that LANXESS is a leading global supplier of specialty chemicals, core business development, production and marketing of chemical intermediates, additives, specialty chemicals and plastics. With sales of 7.7 billion euros in 2016, there are approximately 19,200 employees worldwide and 74 manufacturing locations in 25 countries.
| Benzalkonium chloride |