Lanxess to sell polymers business to UBE Corporation
Oct 3 (Reuters) -German speciality chemicals maker Lanxess LXSG.DE said on Thursday it has signed a contract to sell its Urethane Systems polymers business to UBE Corporation.
The enterprise value of Lanxess's last remaining polymers business amounts to 460 million euros ($507 million), the company said.
In March Lanxess said the sale was expected within the next two quarters, with proceeds to be used to reduce the company's net debt.
The transaction is expected to close in the first half of 2025, subject to regulatory approval.
($1 = 0.9065 euros)
Reporting by Amir Orusov and Anastasiia Kozlova
Editing by David Goodman
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