Lanxess Sells Remaining Interest in Arlanxeo; Raising Fair Value Estimate to EUR 59
After reviewing the proposed divestment of Lanxess’ remaining 50% interest in Arlanxeo, we raise our fair value estimate to EUR 59 from EUR 55 and maintain our no-moat rating for the company. At current levels, the shares look moderately overvalued.Lanxess recently announced that it is selling its remaining interest in its commodity rubber business, Arlanxeo, to its joint venture partner, Saudi Aramco. We think Lanxess’ plan has always been to fully exit the business, but the early timing is s...
Lanxess is a management holding company, engaged in chemicals enterprise with a portfolio ranging from polymers to industrial, specialty and fine chemicals. Co. has three segments, which comprise 14 business units. Co.'s Performance Polymers segments include five units, Butyl Rubber, Performance Butadiene Rubbers, Keltan Elastomers, High Performance Elastomers, and High Performance Materials. Advanced Intermediates segments include two units, Advanced Industrial Intermediates, and Saltigo. Performance Chemicals segments, include seven units, Material Protection Products, Inorganic Pigments, Functional Chemicals, Leather, Rhein Chemie, Rubber Chemicals, and Liquid Purification Technologies.
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