DGAP-News: Willkie Farr & Gallagher LLP / Key word(s): Acquisition/Mergers & Acquisitions

16.10.2014 / 14:40

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* Business to become part of Archroma's Textile Specialties * BASF's Performance Products segment further sharpens focus on growth-driven customer industries
BASF and Archroma have agreed on the sale of BASF's global textile chemicals business to Archroma, a supplier of specialty chemicals to the textile, paper and emulsions industries. Archroma is a portfolio company of SK Capital Partners, a private investment firm with focus on the specialty materials, chemicals and healthcare sectors. It is planned to integrate the business into the Archroma Textile Chemicals Specialties business. Currently, the textile chemicals business is part of BASF's Performance Chemicals division. The transaction is subject to approval by the relevant antitrust authorities and the closing is expected to take place in the first quarter of 2015. The parties have agreed not to disclose financial details.
The transaction comprises the global textile chemicals business, as well as the legal entity BASF Pakistan (Private) Ltd., Karachi. About 290 positions globally are in the scope of the transaction, thereof approximately 230 in Asia. This step is in line with BASF's strategy of actively managing its portfolio and it will further sharpen the focus of the Performance Products segment on growth driven customer industries.
The textile chemicals business of BASF offers solutions to the full textile processing value chain, which includes a portfolio for pre-treatment, printing, finishing and coating. The business has a global presence with a strong focus on Asian growth markets, and is headquartered in Singapore. About Archroma
Archroma is a global color and specialty chemicals company committed to innovation, world-class quality standards, high service levels, cost-efficiency and sustainability. Archroma is headquartered in Reinach near Basel, Switzerland, and operates with approximately 3,000 employees over 35 countries. Through its three businesses: Textile Specialties, Paper Solutions and Emulsion Products, Archroma delivers specialized performance and color solutions to meet customer needs in their local markets. Archroma helps people fulfill their desire for products that appeal to their emotions and senses for a greater life experience, by developing beauty- and performance-improving technologies applied to everyday products. Products enhanced, colors enhanced, performance enhanced - "LIFE ENHANCED". The inhouse team of Archroma was led by Hans Lourens (General Counsel). The Willkie team was led by Mario Schmidt (M&A/Private Equity) and included the partners Dr. Patrick Meiisel (Tax), Dr. Christian Rolf (HR) and Rolf Hünermann (Compliance/Antitrust) and the associates Dr. Maximilian Schwab (Corporate), Dr. Stephanie Schmidt-Ehemann (Corporate), Wolfgang Münchow (Corporate), Jochen Riechwald (HR), Dr. Axel Wahl (Corporate), Jörg Walzer (Tax), Patrick Wacker (Corporate) and Dr. Jan Claudio Munoz (Corporate). The team of Baer Karrer included the partners Markus Wang (IP), Dr. Christoph Neeracher (M&A), Luca Jagmetti (M&A) and Till Spillmann (M&A/Finance).
The team of Morgan, Lewis & Bockius LLP was led by Steven M. Cohen (Corporate) and Izzet M. Sinan (Antitrust) and included the partner Richard Petretti (Debt Finance) and the associates Irene De Beni (Antitrust), Jessica Parker (Antitrust) and Steve Nesspor (Debt Finance). Willkie Farr & Gallagher LLP is an international law firm, comprising more than 600 attorneys with offices in New York, Washington, Paris, London, Milan, Rome, Frankfurt and Brussels. The headquarters are in New York, 787 Seventh Avenue, Tel.: 001 212 728 8000.
Frankfurt, October 16, 2014



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16.10.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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