Monheim, Germany—In a much anticipated move, raw materials giant Cognis Holding GmbH, based here, agreed to sell all its shares to BASF. The transaction, valued at nearly $3.8 billion (3.5 billion euros), will close in November of this year. Cognis made $3.1 billion (2.6 billion euros) in sales in 2009.
Stated Cognis's CEO Antonio Trius, "This will allow the leveraging of business opportunities and provide a comprehensive range of products and solutions for customers. We also believe that Cognis’ excellent market position and clear focus on the trends wellness and sustainability, especially our green products, make a perfect strategic fit.”
Published in WholeFoods Magazine, August 2010 (published online ahead of print on June 22, 2010)