Germany: Evonik Industries has completed its acquisition of the specialty additives business, Performance Materials Division, of the US company Air Products for Euro3.5bn. All relevant competition authorities have approved the transaction and the integration of the acquired business is underway. The transaction financing was completed successfully in September 2016. It has been paid for by the company’s own funds to the amount of Euro1.6bn with the excess Euro1.9bn covered by bonds.
"The successful completion of the acquisition paves the way for swiftly merging the activities of Evonik and the acquired units of the Air Products Performance Materials business," said Klaus Engel, Chairman of the Executive Board of Evonik Industries AG. "It puts Evonik in an excellent position for further profitable growth in the attractive specialty additives market."