BASF completes sale of custom synthesis business and parts of its API business to Siegfried Holding AG
Ludwigshafen, Germany – October 1, 2015 – BASF has completed the previously announced sale of its pharma custom synthesis business and parts of its active pharmaceutical ingredients (APIs) business to Siegfried Holding AG. The relevant merger control approvals have already been granted. Effective October 1, 2015, Siegfried Holding AG takes over the operational management of the businesses. As part of the transaction about 850 employees transfer to Siegfried. The enterprise value is approximately €270 million.
In order to ease transition for customers, BASF will provide transitional services until late 2016, including sales and distribution of the divested API portfolio as non-exclusive distributor for Siegfried. The pharma custom synthesis business has been transferred in its entirety to Siegfried.
BASF is a leading solution provider and ingredients innovator for the pharmaceutical industry and is focusing its pharmaceutical ingredients & services business on its core expertise in pharmaceutical excipients. Selected APIs, such as ibuprofen, omega-3 fatty acids and polyethylenglycol (PEG), where the company has a leading market position, will remain a key part of BASF's portfolio.
At BASF, we create chemistry – and have been doing so for 150 years. Our portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. As the world's leading chemical company, we combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF had sales of over €74 billion in 2014 and around 113,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.