BASF and the fine chemical company DIC have reached an agreement on the acquisition of BASF's global pigments business. The purchase price on a cash and debt-free basis is Euro 1.15 billion. The transaction is expected to close in the 4Q 2020. The divestiture is subject to the approval of the relevant competition authorities.
DIC is a Japanese company listed at the Tokyo Stock Exchange with about 20,000 employees globally. The company headquartered in Tokyo was founded in 1908, is active in more than 60 countries and generated sales of approximately 800 billion yen in 2018.
BASF's pigments business with around 2,600 employees globally generated sales of approximately Euro 1 billion in 2018.