The enterprise value is EUR 3.1 billion (including net financial debt and pension obligations). 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.
Cognis is a worldwide supplier of speciality chemicals and 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 mining, lubricants, coatings as well as agriculture. The company employs about 5,500 people, and it operates production sites and service centers in 30 countries. In 2009, Cognis recorded sales of about 2.6 billion euros and an operating result of EUR 364 million.
"With this acquisition, we want to achieve a leading position in personal care ingredients, strengthen our leading position in value added products for home care and establish a strong position in health and nutrition products, said Dr. John Feldmann, member of the Board of Executive Directors of BASF and responsible for the Performance Products segment. "By purchasing Cognis, we will in particular expand our portfolio with products based on renewable raw materials. A broader and more attractive offering of products and services combined with our research and development expertise will allow us to become an even more important partner for joint development projects with our customers. This will contribute to making them even more successful.
Following the necessary approvals, the business will be integrated into BASF's Performance Products segment.