In February, chemical giant BASF unveiled plans to put the pigment unit up for sale, seeing little potential for the business to differentiate itself from rivals. BASF's pigments business with around 2,600 employees globally generated annual sales of approximately EUR 1 billion in 2018 and in core profits about EUR 120 million. The Germany-based company will sell its global pigments business to Japanese fine chemical company DIC for EUR 1.15 billion on a cash-free, debt-free basis. The transaction is expected to close in the fourth quarter of 2020 and is subject to the approval of the relevant competition authorities. ...
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