Cologne-based company receives proceeds of around euro 1.4 billion
Specialty chemicals company LANXESS completed the sale of its remaining 50 per cent interest in the rubber company ARLANXEO to Saudi Aramco. All relevant antitrust authorities have granted the necessary approvals for the transaction announced in August 2018.
Upon completion of the transaction, the remaining stake of the specialty chemicals company in ARLANXEO was transferred to the former joint venture partner Saudi Aramco. In return, LANXESS received proceeds of approximately euro 1.4 billion. With the transaction proceeds, LANXESS strengthens its financial base and significantly reduces its net financial liabilities.
The transfer of the business with synthetic rubber into the joint venture ARLANXEO was the foundation for LANXESS’ strategic realignment. Since then LANXESS has been focusing on growth in specialty chemicals markets and made various acquisitions in this area.