BASF and the fine chemical company DIC have reached an agreement on the acquisition of BASF’s global pigments business. The purchase price on a cash and debt-free basis is â¬1.15 billion. The transaction is expected to close in the fourth quarter of 2020. The divestiture is subject to the approval of the relevant competition authorities.

“We have achieved our goal to find an owner who considers pigments a core strategic business,” said Dr. Markus Kamieth, member of the board of executive directors of BASF SE, responsible for the Industrial Solutions segment. “We are convinced that the pigments business will be able to unfold its full potential within DIC.”

BASF’s pigments business, with around 2,600 employees globally, generated sales of approximately â¬1 billion in 2018.

For more information, visit www.basf.com.