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Lanxess to Earn More from ABS Sale

8:50 AM MDT | October 3, 2007 | Natasha Alperowicz

Lanxess expects to receive a bigger payment from Ineos for the 49% stake it still holds in its acrylonitrile butadiene styrene (ABS) business. Lanxess received €35 million ($47.7 million) earlier this year from Ineos for 51% of the business (CW, July 11, p. 17). The ABS business is currently a 51-49 joint venture between the companies, and Lanxess is due to sell its 49% stake to Ineos in September 2009. Zachert: Radical restructuring. “The first part of the transaction included a net debt element, whereas the second part will be evaluated on Ebitda...

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