Lanxess to Buy DSM Elastomers for €310 Million

Lanxess says it has agreed to acquire DSM’s Elastomers unit for €310 million ($411 million). The purchase price is about 6 times estimated 2010 Ebitda. The business is expected to achieve sales of about €380 million in 2010. Lanxess says it will finance the deal with available liquidity; it is expected to be accretive to earnings per share immediately. DSM Elastomers’ 200,000-m.t./year ethylene propylene diene monomer (EPDM) capacity is split between Geleen, the Netherlands and Triunfo, Brazil. Lanxess also has an EPDM business with plants...

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