BASF to Sell Manufacturing Site in US
December 17 2020 - 11:31AM
Dow Jones News
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)
Copyright (c) 2020 Dow Jones & Company, Inc.
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