-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
Evonik has completed the closing of the sale of its methacrylates business, marking a further step in the company's continued execution of its strategy to focus on specialty chemica.
The sold methacrylate business has 15 production sites worldwide and 3,900 employe.
"The sale of this business is another powerful move by Evonik to further focus its product portfolio on specialty chemicals, thereby reducing its reliance on economic cycles," said Evonik Chairman Cullm.
The sale price (enterprise value) of the 3 billion euros of the said divested business is 5 times its earnings before interest, tax, depreciation and amortization (EBITD.
In addition, Evonik will need to pay a one-time tax liability of approximately 260 million euros to complete the transaction due to the separation of shares and taxes payable in 201
At the same time, this will allow Evonik to receive higher depreciation charges and related future tax relief over the next 15 years, which will be reflected in free cash flow of up to 20 million euros per ye.
Evonik plans to use the proceeds from the transaction to strengthen its financial position and expand its specialty chemicals portfolio in a targeted mann.
