LANXESS AG - M&A Activity 2019 | FinancialReports.eu

News Details

Ad-hoc | 6 August 2019 20:41

LANXESS Aktiengesellschaft: LANXESS to sell 40% stake in chemical park operator Currenta

LANXESS Aktiengesellschaft / Key word(s): Disposal

LANXESS Aktiengesellschaft: LANXESS to sell 40% stake in chemical park operator Currenta

06-Aug-2019 / 20:41 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

– Currenta valued at enterprise value of EUR 3.5 billion

(100% including real estate)

– Equity value of LANXESS’ 40% stake approximately

EUR 780 million pre tax

– Buyer is the world’s largest infrastructure investor Macquarie Infrastructure and Real Assets

– LANXESS’ strategic interest will be secured by 10 year service- and supply contracts for the three production sites in Leverkusen, Krefeld-Uerdingen und Dormagen

Cologne – Specialty chemicals company LANXESS signed on August 6, 2019, an agreement to sell its 40% share in the chemical park operator Currenta to funds managed by Macquarie Infrastructure and Real Assets (MIRA). Currenta manages and operates the chemical parks in Leverkusen, Dormagen and Krefeld-Uerdingen.

The transaction is subject to the approval of the responsible regulatory authorities. Closing is expected until the end of April 2020. Currently, Currenta is a joint venture of Bayer (60%) and LANXESS (40%).

The 40% stake of Currenta held by LANXESS accounts for an equity value (after deduction of net debt and pensions) of approximately

EUR 780 million pre tax. In addition, LANXESS is entitled to a profit participation until completion of the transaction. Moreover, LANXESS has reached an agreement with MIRA on service and supply contracts for the three sites in Leverkusen, Dormagen and Krefeld-Uerdingen, which will initially run for 10 years.

With the long-term contract package, LANXESS has secured a reliable infrastructure at competitive conditions for the future. At the same time the sale of the 40% stake will give LANXESS additional financial leeway.

Cologne, August 6, 2019

Forward-Looking Statements

This company release contains certain forward-looking statements, including assumptions, opinions 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:

Katharina Forster

LANXESS AG

Investor Relations Manager

Kennedyplatz 1

50569 Köln, Deutschland

Telefon: +49 221 8885-1035

Fax: +49 221 8885-4944

Mobil: +49 151 74612789

E-Mail: [email protected]

06-Aug-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.dgap.de


Language:	English
Company:	LANXESS Aktiengesellschaft
	Kennedyplatz 1
	50569 Cologne
	Germany
Phone:	+49 (0)221 8885-3494
Fax:	+49 (0)221 8885-4944
E-mail:	[email protected]
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:	853031