Specialty chemicals company
LANXESS has completed the sale of its Urethane Systems business to Japanese UBE
Corporation on April 1, 2025. UBE is a global manufacturer of chemical products
and listed at the Tokyo Stock Exchange.
All relevant antitrust
authorities had granted the necessary approvals for the transaction, which was
announced in October 2024. With completion of this transaction, LANXESS has
received gross cash proceeds of approximately €500 million. The enterprise value
amounts to €460 million.
LANXESS intends to use the
proceeds to redeem its €500 million benchmark bond which matures in May 2025.
The leverage ratio (net financial debt / EBITDA pre) will be reduced to ~3x.
“With this sale, we
conclude our portfolio transformation and at the same time achieve a
substantial further reduction of net financial debt”, says Matthias Zachert,
Chairman of the Board of Management of LANXESS AG.
