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Lone Star Funds To Buy BASF's Construction Chemicals Business For EUR 3.17 Bln

Private equity firm Lone Star Funds, owned by billionaire John Grayken, to buy BASF's Construction Chemicals business for about 3.17 billion euros.

The transaction is expected to close in the third quarter of 2020.

"Our aim was to find a new home for our Construction Chemicals business where it can leverage its full potential," said Saori Dubourg, member of the Board of Executive Directors of BASF SE and responsible for the Construction Chemicals business.

With more than 7,000 employees, BASF's Construction Chemicals business operates production sites and sales offices in more than 60 countries and generated sales of about 2.5 billion euros in 2018.

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