Markets

Lone Star Reportedly In Talks For BASF Construction Unit

(RTTNews) - Private equity firm Lone Star Funds, owned by billionaire John Grayken, is in exclusive negotiations with German Chemicals giant BASF Group (BFA.L, BASFY.PK) to acquire its construction chemicals unit, reports said citing people with knowledge of the matter.

The deal, if successful, could value BASF construction chemicals business at about 3 billion euros or $3.3 billion.

Lone Star Funds reportedly trumped a consortium by Cinven and Bain Capital to enter negotiations.

With the planned sale, BASF expects to focus on more profitable operations.

In September, BASF agreed to sell its Ultrafiltration Membrane business to DuPont Safety & Construction, a division of DuPont.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

    RTTNews

    Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

    Learn More