United States.
Evonik Industries AG has completed the activities to acquire the Performance Materials Division business of the US company Air Products, Inc. for US$3.8 billion (approximately $3.5 billion) by the end of the year, as planned.
The closure took place on January 3, 2017. All relevant antitrust authorities have approved the transaction and the integration of the acquired business is underway. The financing of the operation was successfully completed in September and will consist of the company's own funds amounting to €1.6 billion, with the other half to be financed by bonds with a nominal value of €1.9 billion.
"The successful conclusion of the acquisition paves the way for the rapid merger of Evonik's activities and the acquired units of the Air Products Performance Materials business," said Klaus Engel, Chairman of the Board of Management of Evonik Industries AG. "This places Evonik in an excellent position for profitable growth in the attractive specialty additive market."
"We are well prepared to ensure a smooth business transition and successful integration. To this end, we have worked intensively with Air Products in recent months to develop integration plans," confirmed Ralph Sven Kaufmann, Chief Operating Officer and Member of the Board of Directors responsible for the integration.
