logo
Plus   Neg
Share
Email

Lone Star Reportedly In Talks For BASF Construction Unit

Private equity firm Lone Star Funds, owned by billionaire John Grayken, is in exclusive negotiations with German Chemicals giant BASF Group (BFA.L,BASFY.PK) to acquire its construction chemicals unit, reports said citing people with knowledge of the matter.

The deal, if successful, could value BASF construction chemicals business at about 3 billion euros or $3.3 billion.

Lone Star Funds reportedly trumped a consortium by Cinven and Bain Capital to enter negotiations.

With the planned sale, BASF expects to focus on more profitable operations.

In September, BASF agreed to sell its Ultrafiltration Membrane business to DuPont Safety & Construction, a division of DuPont.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Airbnb has introduced few new rules to control parties and nuisances amidst the backlash the service received after the Halloween shooting at an Airbnb rental in a San Francisco. San Francisco-based Airbnb said it is banning "open invite" parties at all of its accommodations. The company is also banning... The U.S. Food and Drug Administration has approved three generic versions of Novartis' Gilenya capsule for treating relapsing forms of multiple sclerosis. "Approving safe and effective generics so patients have more treatment options continues to be a priority for the FDA," said Janet Woodcock, director... Shares of Upscale furniture chain RH (RH) are on a tear, on the heels of an upbeat annual forecast. Today, the stock set a new all-time high of $239.88.The stock is up more than 20% from its Dec 3 opening price of $196.66, and currently trading at $237.8, and nearly three-times its 52-week low of $84.11....
Follow RTT
>