LANXESS Aktiengesellschaft

  • WKN: 547040
  • ISIN: DE0005470405
  • Land: Deutschland

Nachricht vom 08.08.2018 | 10:08

LANXESS Aktiengesellschaft: LANXESS signs agreement to transfer the remaining shares in the joint venture ARLANXEO to Saudi Aramco.

LANXESS Aktiengesellschaft / Key word(s): Strategic Company Decision/Disposal
LANXESS Aktiengesellschaft: LANXESS signs agreement to transfer the remaining shares in the joint venture ARLANXEO to Saudi Aramco.

08-Aug-2018 / 10:08 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Ad hoc according to Art. 17 Absatz 1 MMVO

LANXESS signs agreement to transfer the remaining shares in the joint venture ARLANXEO to Saudi Aramco.

Specialty chemicals group LANXESS signed an agreement with Aramco Overseas Holdings Coöperatief U.A. (Saudi Aramco) about the early transfer of all shares in the rubber joint venture ARLANXEO to Saudi Aramco. Currently, LANXESS und Saudi Aramco each own 50% of ARLANXEO who is a manufacturer of synthetic rubber.

The Enterprise Value of the entire Joint Venture amounts to Euro 3.0 billion. LANXESS expects to receive approximately Euro 1.4 billion in cash after deducting debt and other financial liabilities.

The transfer of shares to Saudi Aramco is still subject to approval of the relevant anti-trust authorities. At the same time, information or consultation of the competent employee representative bodies will take place. Closing is expected end of 2018.



Contact:
André Simon

LANXESS AG
Head of Investor Relations

Kennedyplatz 1
50569 Cologne, Germany
Phone: +49 221 8885-3494
Fax: +49 221 8885-4944
Mobile: +49 175-3023494
E-Mail: andre.simon@lanxess.com

Information and Explanation of the Issuer to this News:

Forward-Looking Statements
This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accept any liability whatsoever arising directly or indirectly from the use of this document.

 

08-Aug-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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