Japan's UBE to buy Urethane Systems from Germany's Lanxess for ?460m

NAMPA / DPA

2024-10-03

Frankfurt (dpa) - German specialty chemicals firm Lanxess AG plans to sell its Urethane Systems business to Japanese chemicals manufacturer UBE Corporation. Lanxess announced on Thursday that it has signed a contract to sell Urethane Systems to UBE for an enterprise value of ?460 million ($508 million). The expected proceeds from the deal are around ?500 million. Lanxess will use the proceeds to reduce its net debt. The sale is expected to close......

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