BASF completes acquisition of Cognis

BASF has successfully completed its acquisition of Cognis Holding GmbH from Cognis Holding Luxembourg S.à r.l. controlled by Permira Funds, GS Capital Partners and SV Life Sciences on December 9, 2010.

The equity purchase price was EUR 700 million ($9.58 million).

Including net financial debt and pension obligations, the enterprise value of the transaction is EUR 3.1 billion.

Through the purchase of Cognis, BASF will achieve a leading position in personal care ingredients, strengthen its leading position in value-added products for home care, establish a strong position in human nutrition and further strengthen its position in pharma excipients.

BASF will also be able to offer customers of the Performance Chemicals and Dispersions & Pigments divisions an even more attractive portfolio.

The acquisition will in particular expand BASF's portfolio with products based on renewable raw materials.

BASF intends to fully integrate Cognis into the BASF Group.

Detailed integration plans will be developed by the end of the first quarter of 2011.

Completion of the structural integration is targeted for the end of 2011.