Deals
BASF’s $3 Billion Unit Sale Loses Steam as Buyout Firms Exit
- Advent losing interest; Bain, Blackstone out of the running
- LafargeHolcim, Standard Industries still pursuing business
A chemical tanker barge sails past a silo at the BASF SE headquarters chemical plant on River Rhine in Ludwigshafen, Germany.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
Several private equity suitors are considering walking away from BASF SE’s sale of its construction-chemicals business as the auction becomes increasingly focused on corporate buyers, people familiar with the matter said.
Advent International’s interest in the business is cooling as the Sept. 9 deadline for the next round of bids approaches, according to the people. Bain Capital and Blackstone Group Inc. are already out of the running for the asset, the people said, asking not to be identified because the information is private.