German materials company Covestro has acquired DSM Functional Materials for €1.6 billion, of which DSM aims ultimately to receive €1.4 billion net.
The purchase includes the follow: “DSM’s Resins & Functional Materials businesses, including DSM Niaga, DSM Additive Manufacturing and the coatings activities of DSM Advanced Solar. These businesses represented €1,012 million of DSM’s 2019 total annual net sales and €133 million of DSM’s 2019 total EBITDA.
”Geraldine Matchett and Dimitri de Vreeze, Co-CEOs of DSM, said, presumably in choir: “This sale builds on our approach of actively managing our businesses, as DSM continues to evolve as a purpose-led, science-based company operating in the fields of Nutrition, Health and Sustainable Living. The deal delivers strong value to DSM and is strategically attractive for all parties. In Covestro, we recognize a company that shares similar views on culture and the value of sustainability. We know that Covestro will be a […]
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