LANXESS to sell urethane systems business to Japan’s UBE for €500 million
Nurluqman Suratman
03-Oct-2024
SINGAPORE (ICIS)–LANXESS is selling its urethane systems business to Japanese firm UBE Corp in a deal worth around €500 million, the German specialty chemicals firm said on Thursday.
“With this transaction LANXESS exits the last remaining polymer business.”
The enterprise value of the deal amounts to €460 million with expected proceeds of around €500 million, the company said in a statement.
LANXESS expects the transaction to close in the first half of 2025.
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