US fund Platinum Equity is valued at $ 5.25 billion (4. 4.43 billion) by chemist Solenis, 49% by German firm PASF and 51% by Clayton, Doubler & Rice, according to a report released on Tuesday. “Solanis’ corporate value in the transaction is $ 5.25 billion, taking into account net debt of $ 2.5 billion.BASF said.
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In 2018, German Chemicals Group concluded a deal to buy a 49% stake in Solanis from Clayton, Doubler & Rice Funds. The purpose of the transaction is for BASF to combine its operations with paper and water purification with an American company that is one of the world’s leading experts in this field. The new company operated as a joint venture, shared between BASF and Clayton, Duplicate & Rice Fund, but operated under the name Solenis. It had revenues of 2. 2.8 billion last year.
According to the transaction announced on Tuesday, the two former partners “Completely deviate from Solanis”, Which will transfer 100% ownership to Platinum Equity. “Sales are expected to be completed by the end of 2021, subject to the approval of competent authorities“Said BASF.”This transaction does not affect any supply agreements or trade relations between BASF and Solenis“It simply came to our notice then.
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Platinum Equity is a California investment fund founded in 1995, with offices in New York, London and Singapore. Solenis, for its part, has a headquarters in the US state of Delaware (East) and employs about 5,200 people.
