LANXESS Aktiengesellschaft / DE0005470405
03.10.2024 - 08:04:52LANXESS Aktiengesellschaft: LANXESS signs contract to sell Urethane Systems business to UBE Corporation
EQS-Ad-hoc: LANXESS Aktiengesellschaft / Key word(s): Disposal 03-Oct-2024 / 08:04 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Ad hoc according to Art. 17 paragraph 1 MAR LANXESS signs contract to sell Urethane Systems business for an enterprise value of €460 m to UBE Corporation - proceeds will be used to reduce net financial debt Specialty chemicals company LANXESS signed a contract to sell its Urethane Systems business to UBE Corporation on 3rd October, 2024. The enterprise value amounts to €460 m with expected proceeds of around €500 m. With this transaction LANXESS exits the last remaining polymer business. The Urethane Systems business comprises 5 manufacturing sites globally as well as application laboratories in the USA, Europe and China. UBE Corporation will take over all operations from LANXESS with a total of around 400 employees. The Urethane Systems business generated sales of around €250 m last twelve months June 2024. LANXESS will use the proceeds to reduce its net debt. The leverage ratio (net debt / EBITDA pre) will likely be reduced by ~0.5x. The transaction remains subject to the approval of the relevant authorities. LANXESS expects the transaction to close in the first half of 2025. Cologne, 3rd October 2024 Forward-Looking Statements This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accept any liability whatsoever arising directly or indirectly from the use of this document. Contact: André Simon LANXESS AG Head of Investor Relations Kennedyplatz 1 50569 Köln, Deutschland Phone: +49 175 30 23494 E-Mail: andre.simon@lanxess.com End of Inside Information 03-Oct-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
Language: | English |
Company: | LANXESS Aktiengesellschaft |
Kennedyplatz 1 | |
50569 Cologne | |
Germany | |
Phone: | +49 (0)221 8885-3494 |
Fax: | +49 (0)221 8885-4944 |
E-mail: | ir@lanxess.com |
Internet: | www.lanxess.com |
ISIN: | DE0005470405 |
WKN: | 547040 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 2001039 |
End of Announcement | EQS News Service |
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2001039 03-Oct-2024 CET/CEST