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“With this acquisition, LANXESS is forming a champion in the field of additives and strengthens its already profitable portfolio” explains Matthias Zachert, CEO, LANXESS.
For LANXESS, the acquisition of Chemtura will be accretive to earnings per share (EPS) in the first fiscal year, with annual synergies of approximately EUR 100 million expected by 2020. LANXESS is paying an EV/EBITDA multiple of approximately 7x including synergies for this transaction, meeting its target of 7-9x for acquisitions including synergies.
Through the acquisition LANXESS shareholders benefit from
Chemtura on the other hand becomes part of a much larger, stronger global enterprise with the resources to fully support a more diverse suite of specialty chemicals products and services.