LANXESS worldwide

Corporate Website en | de

Asia

EMEA

Americas

Interactive Worldmap

Find all the contact information for the LANXESS sites worldwide

find out more
Contact

2016-09-26

LANXESS signs contract to acquire Chemtura

LANXESS signs contract to acquire Chemtura

Specialty chemicals company LANXESS has signed a contract to take over the US-based specialty chemicals company Chemtura Corporation. Chemtura is one of the major global providers of high-quality flame retardant- and lubricant additives. LANXESS is offering all cash consideration of USD 33.50 per share.

For the transaction with an enterprise value of  around EUR 2.4 billion LANXESS has secured bridge financing. The bridge financing will quickly be refinanced via senior bonds and a hybrid bond. Furthermore, LANXESS will use existing liquidity for financing.
Closing is subject to approval by Chemtura shareholders, any required regulatory approvals and certain other customary closing conditions. Closing of the transaction is anticipated mid-2017.

Chemtura employs worldwide approximately 2,500 employees and has 20 sites in 11 countries. The company’s headquarters are in Philadelphia, Pennsylvania. The stock market listed company reported sales of around EUR 1.5 billion in the last four quarters and EBITDA pre exceptionals of approximately EUR 245 million. Around 45 percent of its turnover are generated in North America. In addition to additives, the portfolio also comprised urethanes and organometallics.

A combination of both companies would materially expand LANXESS’ business activities in additives for lubricants and flame retardants.

Against the backdrop of the acquisition, the announced share buy-back of around EUR 200 million will not be pursued further.

Forward-Looking Statements

This news release contains forward-looking statements based on current assumptions and forecasts made by LANXESS AG management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Contact

Investor Relations
Contact

Phone: +49 221 8885 3262

Fax: +49 221 8885 4944

send E-Mail

Download