BASF to Sell Kaolin Minerals Business
November 18 2021 - 11:48AM
Dow Jones News
By Giulia Petroni
BASF SE said Thursday that it has agreed to sell its kaolin
minerals business to U.S.-based minerals company KaMin for un
undisclosed sum.
The German chemicals conglomerate said the divestiture includes
production hub with sites and related mines, reserves and mills in
Georgia, U.S. Co-located refinery catalysts operations will
continued to be owned by BASF.
The kaolin minerals business is part of the group's performance
chemicals division and counts approximately 440 employees. Last
year, it generated sales of around 155 million euros ($175.3
million).
The transaction is expected to close in the second half of 2022,
pending approval by the relevant merger control authorities.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
November 18, 2021 11:33 ET (16:33 GMT)
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