The specialty chemicals group Lanxess is taking over the plastics business of the Dutch chemical company DSM for around 3.7 billion euros with the financial investor Advent.
This is to be incorporated into a new joint venture in which Advent will hold at least 60 percent and Lanxess will hold up to 40 percent, as the Cologne-based group announced on Tuesday.
Lanxess will also transfer its business with high-performance polymers, which are mainly used in the automotive industry, to the joint venture and will receive a payment of at least 1.1 billion euros.
The joint venture is to be financed by equity from Advent and debt.