British chemical firm Ineos nears deal to buy Sika assets - Bloomberg News
Reuters
Published Jan 15, 2023 17:49
Updated Jan 16, 2023 02:34
(Reuters) -British chemical firm Ineos is nearing a deal to buy assets being sold by Sika AG to appease antitrust regulators, Bloomberg News reported on Sunday, citing people familiar with the matter.
In December, Sika and Germany-based MBCC Group received UK regulatory approval for their 4.5 billion pound ($5.50 billion) merger on the condition they sell a part of the business to address competition concerns.
The deal values the Swiss chemical firm's admixture business at $750 million and could be announced as soon as Monday, the report said.
Ineos beat private equity firms including Cinven, CVC Capital Partners and Clayton, Dubilier & Rice (CD&R), Bloomberg said.
Ineos, Sika and Cinven declined to comment when contacted by Reuters. CVC Capital Partners and Clayton, Dubilier & Rice did not immediately respond to Reuters' requests for comment.
($1 = 0.8179 pounds)
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.