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Issue 8, 2019 - LANXESS completes the sale of rubber business

 Last Update: 2022-11-11
 Source: Internet
 Author: User

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LANXESS announced that it has sold its 50% stake in ARLANXEO to its former joint venture partner Saudi Aramco
.
This is another milestone
in LANXESS's restructuring process.
LANXESS will use the proceeds from the sale of ARLANXEO shares to continue to improve its financial position and provide further growth space
for internal growth and acquisitions.

LANXESS received around EUR 1.
4 billion in revenue from the sale of ARLANXEO shares and used 200 million euros of that to continue financing its pension debt
, said LANXESS Group Chief Financial Officer Peng Chengmai.
An additional €200 million will be used for share buybacks, which will be completed
by the end of the current financial year.

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