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Cognis Owners Decide to Sell Shares to BASF

The enterprise value is �3.1 billion

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Cognis Holding Luxembourg S.à r.l., controlled by Permira Funds, GS Capital Partners and SV Life Sciences, signed a sale and purchase agreement to sell 100 percent of the shares in Cognis Holding GmbH to BASF SE on June 22.

The enterprise value is €3.1 billion. The transaction is subject to the usual closing conditions, including regulatory approval, and is expected to be formally completed at the latest by November 2010.

Since 2001, Cognis has been successfully transformed into a highly profitable specialty chemicals supplier focused on innovation-driven growth markets. Said Antonio Trius, CEO of Cognis, “Cognis has performed very well over the last years, and is well positioned in attractive growth markets. The transaction combines expertise and synergies in technologies, innovations and market know-how. This will allow the leveraging of business opportunities and provide a comprehensive range of products and solutions for customers. We also believe that Cognis’ excellent market position and clear focus on the trends wellness and sustainability, especially our green products, make a perfect strategic fit.”

Cognis is a worldwide supplier of specialty chemicals and nutritional ingredients, with a particular focus on the areas of wellness and sustainability. The company employs about 5,500 people, and it operates production sites and service centers in 30 countries. The company serves the food, nutrition and healthcare markets, and the cosmetics, detergents and cleaners industries. Another main focus is on products for a number of other industries, such as coatings and inks, lubricants, as well as agriculture and mining.

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