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German firm BASF closes divestiture of global pigments business to DIC
05 Jul '21
1 min read
Pic: BASF
BASF, a Germany-based leading chemical company, has announced that on June 30, 2021, it closed the divestiture of the company's global pigments business to the Japanese fine chemical company DIC following the fulfilment of clearance conditions. The purchase price on a cash and debt-free basis is €1.15 billion, according to the company’s press release.
BASF and DIC had reached an agreement on the acquisition of BASF’s global pigments business with about 2,600 employees on August 29, 2019, the company added.
DIC, headquartered in Tokyo was founded in 1908, is active in more than 60 countries and generated sales of around ¥700 billion (Japanese yen) in 2020. This corresponds to about €5.8 billion. Under the slogan “Color & Comfort,” DIC is active in three segments: Packaging & Graphic, Color & Display and Functional Products. Color & Display includes a portfolio of pigments.
Fibre2Fashion News Desk (JL)
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