Done Deal: BASF Acquires Cognis

LUDWIGSHAFEN, GermanyBASF completed its acquisition of Cognis Holding GmbH for 700 million. Purchased from Cognis Holding Luxembourg S.à r.l. controlled by Permira Funds, GS Capital Partners and SV Life Sciences, the purchase included net financial debt and pension obligations, bringing the enterprise value of the transaction to 3.1 billion.

"Cognis and BASFs know-how and range of products complement each other very well," said  Jürgen Hambrecht, Ph.D., chairman of BASFs board of executive directors. The combination will broaden our portfolio of specialty chemicals and boost innovation for our customers."

BASF intends to fully integrate Cognis into the BASF Group, with completion of the structural integration targeted for the end of 2011.

"Our highest priority is to ensure a smooth and seamless integration process while maintaining the highest standards of customer service and product quality," said John Feldmann, Ph.D., a member of BASFs board of executive directors with responsibility for the Performance Products segment. Most of Cognis businesses will be integrated into the divisions of this segment.

BASF also noted that integrating Cognis operations will expand BASFs portfolio of products based on renewable raw materials.