BASF closed the divestiture of its global pigments business to the fine chemical company DIC following the fulfillment of clearance conditions. The purchase price on a cash and debt-free basis is €1.15 billion.
BASF and DIC had reached an agreement on the acquisition of BASF’s global pigments business with about 2,600 employees on August 29, 2019. DIC is a Japanese company listed at the Tokyo Stock Exchange with about 20,000 employees globally. The company headquartered in Tokyo was founded in 1908, is active in more than 60 countries and generated sales of around 700 billion yen in 2020. This corresponds to about €5.8 billion. Under the slogan “Color & Comfort,” DIC is active in three segments: Packaging & Graphic, Color & Display and Functional Products. Color & Display includes a portfolio of pigments.
This post appeared first on Coatings World.