BASF and DIC, a fine chemicals company, have reached an agreement to acquire BASF’s global pigment business. The exchange involved cash and debt free purchase prices of EUR 1.15 billion. BASF’s pigment business has 2600 employees worldwide, with sales of EUR 1 billion in 2018. The deal is expected to be completed in the fourth quarter of 2020. The transaction also needs to be approved by the relevant authorities.
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