On Aug. 29, 2019, DIC Corporation announced that it had resolved to acquire the shares and assets of BASF’s Colors & Effects business and to transform the business into a subsidiary, and entered into a sales and purchase agreement.
DIC now expects to complete the closing of this transaction on June 30, 2021.
The impact of the closing of this transaction is not reflected in DIC’s operating results forecasts for fiscal year 2021, published May 14, 2021.
Initially BASF and the fine chemical company DIC had reached an agreement on the acquisition of BASF’s global pigments business in 2019. The purchase price on a cash and debt-free basis is €1.15 billion. The transaction was expected to close in the fourth quarter of 2020. However, it was put on hold.
DIC is a Japanese company listed at the Tokyo Stock Exchange with about 20,000 employees globally. The company headquartered in Tokyo was founded in 1908, is active in more than 60 countries and generated sales of approximately 800 billion yen in 2018. This corresponds to about €6.8 billion. Under the slogan “Color & Comfort,” DIC is active in three segments: Packaging & Graphics, Functional Products and Color & Display. Color & Display includes a portfolio of pigments.
BASF’s pigments business with around 2,600 employees globally generated sales of approximately €1 billion in 2018.
