IHS Chemical Week

Markets :: Specialty Chemicals :: Lubricants

Lanxess Buys Businesses in India and China

5:06 AM MDT | June 8, 2009 | Natasha Alperowicz

Lanxess says its Indian subsidiary Lanxess India Private Ltd. (Thane) will acquire the chemical businesses and assets of Gwalior Chemical Industries (Mumbai), a listed Indian company, for €82.4 million ($112 million), including debt. The transaction is subject to approval by Gwalior's shareholders and clearance by the relevant antitrust authorities. Closing is expected at the end of the third quarter. Lanxess says it will also acquire the business and production assets of Chinese-based Jiangsu Polyols Chemical Co. for an undisclosed sum. Closing is...

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