LANXESS and Advent international have signed an agreement to buy DSM Engineering Materials from Dutch group royal DSM. The purchase price is around €3.7bn.
“LANXESS will contribute its High Performance Materials (HPM) business unit to the joint venture,” the press release said.
The estimate for the complition of the transaction, subject to approval by authorities, is the first half of 2023.
“With the new joint venture, we are forging a strong global player in the field of high-performance polymers,” said LANXESS CEO Matthias Zachert.