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BASF buys Solvay's polyamide business for €1.6B

Sep. 19, 2017 7:48 AM ETBASF SE (BASFY) StockBASFY, SVYSF, BFFAFBy: Carl Surran, SA News Editor
  • BASF (OTCQX:BASFY) agrees to acquire Solvay's (OTCQX:SVYSF) global polyamides business for €1.6B ($1.92B), in a move to boost its presence in engineered plastics for cars and improve access to growth markets in Asia and South America.
  • BASF says the businesses it is buying had net sales of €1.32B in 2016 and EBITDA of ~€200M.
  • The deal will give BASF critical mass in its downstream polyamides business, according to Peter Spengler at DZ Bank.

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