Ineos Seals the Deal, British Chemical Company to Acquire Sika AG Assets for $750 Million

  • 16-Jan-2023
  • Journalist: Jaideep

London (United Kingdom): British chemical company Ineos is in the process of reaching an agreement to purchase certain assets being sold off by Sika AG (SIKA.S) as a way to satisfy antitrust laws. During December 2020, Sika and MBCC Group from Germany received the go-ahead from regulators in the United Kingdom for their 4.5 billion pound ($ 5.50 billion) fusion – but only on the condition that part of their business would be divested in order to address competition worries.

Reports suggest that a deal valuing Sika AG's admixture business at a staggering $750 million could be made public as soon as Monday, with Ineos emerging victorious over several other private equity firms including Cinven, CVC Capital Partners and Clayton, Dubilier & Rice (CD&R).

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