Lanxess : Closing of Engineering Materials transaction with Advent; LXS' c. € 1.3bn cash proceeds € 200m higher than thought on unchanged € 2.5bn EV
>Closing of Engineering Materials disposal/JV effective 1 April with c. € 200m higher than thought proceeds of € 1.27bn - Lanxess announced the long-awaited closing of the disposal of its HPM (Engineering Materials) business to Advent. Cash proceeds of € 1.27bn are € 170m higher than the € 1.1bn flagged before, implying € 1.23bn remaining equity value for c. 40% Lanxess stake kept in the JV with Advent on an unchanged transactions EV of € 2.5bn (12x 2021 EBITDA)....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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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