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German chemicals major, BASF, will acquire Cognis Holding Luxembourg, which is controlled by Permira Funds, GS Capital Partners and SV Life Sciences. The enterprise value of the deal is 3.1 billion euros or $3.8 billion, BASF said. The transaction is subject to closing conditions and is expected to be formally completed by November, it said.
Cognis is a worldwide supplier of innovative solutions and products based on renewable raw materials for the health and nutrition market as well as the cosmetics, detergents industries. Customers of Cognis include global consumer goods companies among others. The company also supplies products for coatings and paints, lubricants for the transport industry and additives for chemical-technical applications for agriculture and mining.
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