- 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.