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BASF’s Cognis takeover agreed ‘in principle’

02-Jun-2010

Related topics: Financial & Industry

The proposed acquisition of Cognis by BASF is reported to be entering its end game with a deal ‘agreed in principle’, according to reports.

 

Financial Times Deutschland (FTD) reports that the main conditions of the deal and the price have been agreed, but no announcement is expected before the middle of this month. The paper cites people “familiar with the talks”.

 

Last month Reuters reported that Cognis’ co-owners Permira PERM.UL and Goldman Sachs Capital Partners are looking for at least 3.5 billion euros ($4.68 billion) for Cognis, including the company’s 2 billion Euros of debt.