DSM had been stuck with its materials branch for some time. Weakness in the automotive industry, among others, was further exacerbated this year by the corona crisis, which meant that these parts had already been dealing with declining revenues for some time.
The Heerlen concern claims to make a book profit from the deal. DSM will receive approximately 1.4 billion euros in cash. Existing debts of the acquired DSM units are also paid. The acquisition is expected to be completed in the first half of next year.
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