Economy
Friday, May 06, 2016
For a long time, Evonik aims to diversify its business. Now the company has shared from Essen in finding a Purchase.
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According to an insider, the Essen-based specialty chemicals company Evonik is after a long search before a billion-dollar takeover. Evonik buy parts of the US company Air Products, said a person familiar with the process person. The transaction could be announced later in the day.
The previously heavily focused on Europe Group could significantly expand its business in North America. In addition, the Essenes would be less dependent on the business with additives for animal feed, which provides far for the lion’s share of the profits. From Evonik was first to get an opinion.
Another insider had told Reuters already in mid-March, Air Products was considering the sale of its Performance Materials of Evonik. The unit to be sold, which produces, among other chemicals for curing agent can have a value of more than 3.5 billion dollars.
More aboutEvonik CEO Klaus Engel had repeatedly announced an active role of the Group of industry consolidation and major acquisitions in the past. The company has bulging coffers. Acquisitions has angels but so far can not present, although Evonik Industry sources said had taken in, among other competitors, DSM and Clariant targeted. Early March said Engel, it could result in new opportunities for acquisitions in the near future.
Strategy Board Christian Kullmann had According to insiders driven the search for takeover targets. He is now to be elected as deputy CEO, as it was made out of circles of the Supervisory Board. Kullmann thus takes course to succeed CEO Engel, whose contract expires 2018th With the appointment Kullmann also a signal of continuity and a smooth transition in the management team should be given.
Source: n-tv.de
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