Deals
Lone Star to Buy BASF Construction Chemical Ops for $3.5 Billion
The BASF headquarter chemical plant in Ludwigshafen, Germany.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
An affiliate of Billionaire John Grayken’s Lone Star Funds agreed to buy BASF SE’s construction chemicals business for 3.17 billion euros ($3.5 billion).
The deal, priced on a cash and debt-free basis, is expected to close in the third quarter of next year, subject to competition authority approval, Lone Star said in a joint statement with BASF. The business complements Lone Star’s portfolio of investments in construction materials, the private equity firm said.