In Brief - Europe
- From: Vol 9, Issue 9 (September 2008)
- Category: Brief
- Region: Europe
- Country: United Kingdom
- Related Companies: BASF, Bluewater Bio, Christ Water Technology, Deutsche Bank, Modern Water and Thames Water
* The ongoing consolidation in the specialty chemicals sector continued on 15 September, as BASF moved to buy Ciba for an enterprise value of CHF6.1 billion (€3.8 billion).
The deal will allow BASF to strengthen its water treatment business, and comes less than a month after Ciba reported poor halfyear results, which included a goodwill impairment of CHF595 million related to its water and paper treatment division. While the weak results sent Ciba’s share price plummeting by 17%, news of the acquisition sent the stock skyrocketing again ...
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