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BASF completed ?3.1bn acquisition of Cognis

December 13/2010

(ICIS) -- BASF has successfully completed its ?3.1bn ($4.1bn) acquisition of specialty chemicals producer Cognis, the German chemicals major said on Friday. The equity purchase price was ?700m, including net financial debt and pension obligations.

BASF said it intended to fully integrate most of Cognis into its performance products segment. Detailed integration plans would be developed by the end of the first quarter of 2011, it added. Completion of the structural integration was targeted for the end of 2011, BASF said.

BASF said that the acquisition of Cognis would allow the group to achieve a leading position in personal care ingredients and strengthen its position in value-added products for home care.


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