By Joshua Kirby 
 

BASF SE said Thursday that it has agreed to sell a manufacturing site in Illinois to an affiliate of private-equity firm One Rock Capital Partners LLC.

The German chemicals company said it will also sell the businesses associated with the Kankakee manufacturing site. The businesses, which produce vegetable-oil-based raw material sterols, natural vitamin E, anionic surfactants and esters, employ around 160 employees, BASF said. The company added that the site is no longer considered a strategic fit.

The transaction is expected to close in the first half of 2021, subject to regulatory approval in the U.S. The company disclosed no financial details of the deal.

 

Write to Joshua Kirby at joshua.kirby@dowjones.com; @joshualeokirby

 

(END) Dow Jones Newswires

December 17, 2020 11:16 ET (16:16 GMT)

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