M&A 2005

28 November 2005 00:00  [Source: ICB]

NOTES ON USING THE LISTING

ECN’s annual listing sets out all the takeovers, spin-offs, mergers and initial public offerings in the chemical sector as reported in the magazine over the last 12 months.

The period of coverage extends from mid-November 2004 to mid-November this year, giving a full 12 months of events. Only those deals in which there is some European involvement, either on the buying or selling side, have been included.

The companies are listed alphabetically, giving the acquiring firm first and the targeted company second. Generally, the location given is the country in which the company’s group headquarters are to be found. Values of deals have been included wherever this has been disclosed.

 

M&A LISTING 2005

Company buying/Acquired	Location	Business	Stake	Cost
Access Industries & Basell	US/Netherlands	Shell Chemicals/BASF polyolefins jv	€4.4bn acq	€4.4bn
Actavis/Amide Pharmaceutical	Iceland/US	generics producer	acq	$500-$600m
Actavis/Lotus Laboratories	Iceland/India	contract research company	acq	€20m
Adcuram Industriekapital/SGL Acotec	Germany/Germany	surface production business of SGL Carbon	acq
Advansa/Cobafi (Companhia Bahiana de Fibras)	Turkey/Brazil	Diolen Industrial Fibers’ polyester industrial yarn and tyre cord fabric operations	acq
Advent International/Dufa	UK/Romania	dye and paint maker business	acq	€18m
Air Liquide/Qatar Petroleum & Qatar Nitrogen	France/UAE	oxygen & nitrogen jv	40:60 jv
Air Liquide/Severstall	France/Russia	ALS air separation jv	75:25 jv	€100m
Akzo Nobel/Coatech	Netherlands/Eygpt	powder coatings	acq 60% stake
Akzo Nobel/Zweihorn	Netherlands/Germany	ICI’s Hilden industrial wood finishes business	acq
Altanta Chemie/Eckart	Germany/Germany	speciality chemicals - pigments/inks	acq	€6.30m
Altana Chemie/Kelstar International	Germany/US	producer of water based & UV curable overprint coatings for the paper and board packaging sector	acq
Amec/PK SAS	UK/France	electrical engineering	acq
Antisoma/Aptamera	UK/US	cancer specialist - AGRO100	acq
Apria Healthcare/Air Liquide Healthcare America	US/France	homecare division of Air Liquide	acq
Azelis UK/Brown & Gillmer	UK/Ireland	animal nutrition sales, marketing and distribution	acq
Azelis/Broste	Italy /Denmark	chemical distributor	acq
Basell/Ineos Silicas	Germany/UK	high pore-volume chromium catalyst	acq
Basell/Sahara Petrochemicals	Germany/Saudi Arabia	polypropylene plant & propane dehydrogenation unit in Saudi Arabia	jv
BASF/Akzo Nobel	Germany/Netherlands	Australian coatings business for the automotive industry	to 100%
BASF/Leuna/Miramid	Germany/Germany	engineering plastics producer	acq
BASF/Merck KGaA	Germany/Germany	global electronic chemicals business	acq	€270m
BASF/NOF Corporation	Germany/Japan	coatings business	to 100%
BASF/Orgamol	Germany/Switzerland	fine chemicals	acq
BASF/Rhenania Coatings	Germany/Germany	Altana Group’s coil coatings business	acq
Bayer Technology Services/Zeptosens	Germany/Germany	biochip business	acq
BorsodChem/Petrochemia Blachownia	Hungary/Poland	high-purity ethylbenzene (EB) maker	acq
BP/Nova Chemicals	UK/Canada	Nova Innovene polystrene jv in Europe	jv
BP/Sinopec & YPC	UK/China	acetic acid plant	50:50 jv
Company buying/Acquired	Location	Business	Stake	Cost
Brenntag/Quadra Chemicals	Germany/US	chemical distributor	acq
Cargill/Degussa	US/Germany	food ingredients business	acq	€540m
Celanese/Vinamul	US/UK	ICI sells US, Canadian & European Vinamul business	acq	€159m
Cerberus and Ampersand/Bayer	US/Germany	blood products	acq	$590m
China National Chemical Corporation/Drakkar Holdings	China/Belgium	parent company of animal nutrition firm Adisseo	acq
Ciba Specialty Chemicals/Wolstenholme International	Switzerland/UK	Metasheen business	acq	€29.2m
Clarksons/JO Plowright	UK/UK	shipping services	acq	£10m
Codexis/Julich Fine Chemicals	US/Germany	biocatalysts & chiral building blocks	acq
Cognis/Eternal Chemical	Germany/Taiwan	energy cure products - Eternal Specialty Chemicals (Zhuhai)	jv
Copperhead Chemical/Avecia	US/UK	Avecia’s special drug mixtures business	acq
Cray Valley & Sartomer/Goodyear	France & US/US	hydrocarbon resins business	acq	$65m
CVC Capital Partners/Wavin	UK/Netherlands	plastics pipes	acq
Cytec Industries/UCB	US/Belgium	UCB’s surface specialities business	acq	$1.4bn
Daicel Chemicals Industries & Polyplastics/Ticona	Japan/Germany	Ticona’s cycloolefin copolymer (COC) business	acq 55:45jv
Daniel Mills & Sons/DSM	South Africa/Netherlands	DSM sells stake in South African yeast products maker Rymco	50%-100%	€39m
Danisco/Genencor	Denmark/US	Eastman Chemical sells stake in biotech jv	42%	$419m
Degussa Specialty Polymers/Cyro Industries	Germany/US	Cytec Industries share	50%-100%	$95m
Degussa/Dongdian No 4 Company	Germany/China	UV stabiliser business	70:30 jv
Degussa/Modern Betongteknologi	Germany/Sweden	concrete admixtures	acq
Degussa/Ticona	Germany/Germany	know-how & patents for PAEK patents	acq
Degussa/Jilin University	Germany/China	polyetheretherketone (PEEK) production	80:20 jv
Delft Instruments/Lubrizol Performance Systems (Enraf Fluid Technology)	Netherlands/US	US & UK assets	acq
Dow Corning/Wacker-Chemie	US/Germany	silicone intermediates and fumed silica production	jv
DSM Pharmaceutical Products/Societe generale de financement de Quebec	Netherlands/Canada	DSM Biologics Holdings	to 100%
DSM/NeoResins	Netherlands/UK	Avecia - coating resins	acq	€515m
DuPont Filaments Europe/Pedex	US/Germany	brush filament business	acq
DuPont/Isceon	US/France	Rhodia’s refrigderant blends business	acq
Dynamic Specialties/Group Novasep	Germany/France	purification and process technologies	merger
DyStar/Rotta Group	Germany/Germany	chemical auxiliaries for textile, leather & paper applications	acq
Elastogran/Witcothane	Germany/US	Chemtura’s PU systems business	acq
Ercros/Uralita	Spain/Spain	chemicals division	acq	€180m
Fenner/Wellington Holdings	UK/UK	polymer seals	acq	€65.5m
Ferd Priviate Equity Fund/Pronova Biocare	Norway/Norway	Norsk Hydro’s remaining 19.5% share	acq	€32.9m
Finnplast/Dynea Chemicals	Switzerland/Finland	PVC plant in Porvoo	acq
Firmenich/Noville	Switzerland/US	perfume and flavours marker	acq
Gilde/Clariant	Netherlands/Germany	acetyl building block business	acq	€48m
Grace AB/Perstorp	Sweden/Sweden	concrete admixtures business	acq
Gulf Bayport Chemicals/Lonza	US/Switzerland	Pasadena, US, site	acq
H&R Wasag/ExxonMobil	Germany/US	Australian speciality business	acq
Hanover Investors/Elementis	Germany/UK	speciality chemicals	acq 11% stake
Helm/Saudi International Petrochemical Co (Sipchem)	Germany/Saudi Arabia	acetyls complex jv	25:75 jv
Henkel/Huawei Electronics	Germany/China	majority stake in epoxy moulding compounds producer	acq
Henkel/Polybit Industries	Germany/UAE	waterproofing materials	acq 49% stake
Henkel/Rhodia	Germany/France	silicone sealants business	acq
Hidafa/Sniace	Mexico/Spain	investment firm buys shares in chemicals company	acq 10% stake
Hoyer/Hoyer-Odfjell	Germany/Norway	tankcontainers	50% to 100%
Humber Group/Acordis	UK/UK	carbon fibre production facility at Grimsby	acq
ICI/Elotex	UK/Germany	Celanese’s emulsion powders business	acq	€37.7m
Imerys/Denain-Anzin Mineraux	France/France	stake in Nord Est’s minerals subsidiary	acq 99.7%	€55.7m
Industri Kapital & MB Funds/CPS Color Group	Switzerland/Finland	Kemira sells remaining stake	27% to 100%
Company buying/Acquired	Location	Business	Stake	Cost
Ineos Chlor/Rhodia	UK/France	UK chlor-alkali and sulphuric acid business	acq
Ineos Group Holdings/Innovene	UK/UK	BP’s olefins, derivatives & refining subsidiary	acq	$9bn
Ineos Group/BASF	UK/Germany	polystyrene plant at Joliet, Illinois, US, plus operations in Canada	acq
Ineos/Cytec Industries	UK/US	surface specialties amino resins (SSAR) business	acq	$78m
Ineos/EVC	UK/Netherlands	PVC producer	to 100%
Ineos Eneterprises/Salt Union	UK/UK	vacuum salt business in Cheshire, UK	acq
Ineos/Solvay	UK/Belgium	rigid plastic foils business	acq
International Chemicals Investors/Enka	Germany/Germany	Acordis’ viscose filament company	acq
International Chemical Investors/Rutgers	Germany/Germany	five specialty and fine chemicals businesses	acq
Interquisa/Nemuno Banga Group (NBG)	Spain/Lithuania	jv to build a terephthalic acid (PTA) plant in Lithuania	jv
Investors/Kemira GrowHow	Finland/Finland	Kemira’s remaining stake in fertiliser company	14.60%	€50.1m
IP2IPO/Techtran Group	UK/UK	commercialising university technology	80% to 100%
IPIC/OMV	UAE/Germany	Agrolinz Melamine International	50% stake	€241m
IPIC/Borealis	UAE/Denmark	Statoil sells stake	25% to 65%
KemFine/Avecia Fine Chemicals	Finland/UK	fine chemicals	acq
Kemira/Finnish Chemicals	Finland/Finland	chemicals supplier	acq
Kemira/Kemiron	Finland/US	water treatment business	60% to 100%
Kemira/Verdugt	Finland/Netherlands	CVC Capital Partners’ speciality chemicals company	acq	€148m
Koc Holding & Consortium/Tupras	Turkey/Turkey	refinery	acq 51%	$4.14bn
Kuraray/Trosifol	Japan/Germany	Rutgers polyvinyl butyral film unit	acq
Lanxess/Xinda & Anhui	Germany/China	production of antioxidants for tyres and rubber	jv
Lenzing/Nanjing Chemical Fibre Company (NCFC)	Germany/China	viscose staple fibres plant in China	70:30 jv
Lonza/Bio*One Capital	Italy/Singapore	jv to build a biopharmaceuticals manufacturing plant in Singapore	jv
Macquarie Bank/Dyno Nobel	Australia/Norway	commercial explosives	acq	$1.7bn
Maire Group/Tecnimont	Italy/Italy	Edison sells 80.5% of engineering contractor	acq	€180m
MBO/Tikkurila Coatings	Finland/Finland	coatings business	acq
Merck Genericos SL/Prasfarma	Spain/Spain	Almirall Prodesfarma’s pharmaceutical assets	acq	€20m
Merck KGaA/Avecia	Germany/UK	organic light emitting diodes & polymer electronics businesses	acq	€50m
Messer Industrie/MEC	Germany/Germany	Carlyle’s cutting, fusion and surface protection technology business	acq
Mg Technologies/GEA	Germany/Germany	process engineering	merger
Mika Inc/Rhodia	Uganda/France	phosphates and sulphuric acid manufacturing business at Rieme, Belgium	acq
Minakem Holdings/Seac	France/France	Nufarm’s pharmaceutical fine chemicals business	acq	€30m
Montefibre/Jinlin Qifeng Chemical Fiber	Italy/China	acryic fibres	50:50 jv
MorphoSys/Biogenesis	Germany/UK & US	antibody research	acq	$5.25m
Navis Capital Partners/Elementis	Malaysia /UK	Linatex rubber business	acq	$30.8m
Nicholas Piramal/Avecia	India/UK	pharmaceutical custom synthesis business	acq	€14m
Norbrook Laboratories/Aliachem	UK/Czech Republic	procaine hydrochloride and benzocaine unit	acq
Nordmann, Rassmann/Kemi-Intressen	Germany/Sweden	Eka Chemical’s distributor of speciality chemical products	acq
Nova Chemicals/BP	Canada/UK	styrenic polymers	50:50 jv
Novartis/Hexal, Eon Labs	Switzerland/Germany, US	generic drug producers	acq	$7.5bn
Novartis/Chiron	Switzerland/US	Novartis takes full control	acq	$5.1bn
Nylstar/RadiciFibres	Italy/Italy	textile fibres	jv
Oiltanking /Star Energy Resources	Germany/Middle East	petroleum storage and blending services	acq shareholding
PAI Partners/Sydsvenska Kemi	UK/Sweden	speciality chemicals	acq
Paradigm Therapeutics/Amedis Pharmaceuticals	UK/UK	drug discovery company	acq
Paramelt/Honeywell	Netherlands/US	industrial wax operations in Belgium & China	acq
PBI Performance Products/Celanese	US/Germany	polybenzimidazole fibre and polymer business	acq
Company buying/Acquired	Location	Business	Stake	Cost
Perstorp/Silver Lining Finance	Sweden/Luxembourg	feed additives supplier Franklin Holding	acq
Peter Greven Fett-Chemie/CECA	Germany/France	stearates business	acq
Qiagen/Artus	Germany/Germany	PCR kits for pathogenetic testing	acq
Quaron/Solvadis France	Netherlands/France	distribution firm	acq
Radici Group/Nylstar	Italy/France-Italy	Radici takes full control of Rhodia/Snia fibres jv	acq
Renolit/Solvay	Germany/Belgium	industrial film business	acq	€330m
Rhodia/ChlorAlp	France/France	LaRoche’s Pont-de-Claix chlor-alkali business	acq	€12.5m
Rhodia/Wuxi Speciality Chemicals	France/China	surfactants & speciality chemicals	30% to 100%
Rockwood Specialties Group/Sud-Chemie	US/Germany	performance additives business	acq
Roullier/Donau Chemie	France/Austria	fertiliser business	acq
Royal Adhesives & Sealants/Elementis	US/UK	Hardman - epoxy and urethanes products business	acq	€11.2m
Sabanci/DuPont	Turkey/US	DuSA jv in nylon industrial yarn and fabrics	50% to 100%	$110m
Sanitas/Hoechst-Biotika	Spain/Slovakia	pharmaceutical manufacturing	acq	€12.7m
Schweizerhall/Cimex	Switzerland/Switzerland	generic drugs	80%	€65m
Shell Deutschland Oil/Choren Industries	Germany/Germany	biofuels	minority stake
Shire Pharmaceuticals Group/Transkaryotic Therapies	UK/US	biopharmaceuticals	acq	$1.6bn
SICPA Group/Wacker	Switzerland/Germany	liquid crystal pigment business	acq
Sigma-Aldrich/Degussa	US/Germany	Proligo - genomics research tools business	acq
SigmaKalon/Polifarb Cieszyn Wroclaw (PCW)	Netherlands/Poland	coatings business	76.2% to 91.9%
SigmaKalon/Triga Color	Netherlands/Czech Republic	decorative paints	80%
Solvay Padanaplast/Shanghai Original Enterprise Development	Belgium/China	halogen-free flame retardant thermoplastics and?irradiation-crosslinkable compounds	jv
Solvay/Chemicals Products Corporation	Belgium/US	production and marketing of barium and strontium carbonates	jv
Solvay/Fournier Pharma	Belgium/France	pharmaceutical manufacturing	acq	€1.6bn
Solvay/Girindus	Belgium/Germany	speciality chemicals	acq
Sosei/Arakis	Japan/UK	medicinal products	acq	€153m
Speyside Equity/Degussa	US/Germany	fruit systems business	acq
SQM Nitratos/Kemira Emirates Fertilizers Company	Chile/Finland	Kemira’s 50% stake	50% stake
Stolt-Nielsen Transportation Group/Ermefer	Norway/Switzerland	Ermewa’s food grade container business	acq
Sud-Chemie/Chinese partner (Shanghai Sud-Chemie Jinhai Catalyst Co)	Germany/China	catalysts production	jv
Sud-Chemie/Wacker-Chemie	Germany/Germany	diesel exhaust catalysts technology	acq
Sumitomo Bakelite/Perstorp	Japan/Sweden	Vyncolit NV and Vyncolit North America businesses	acq	€93m
Sumitomo/BASF	Japan/Germany	Triforine fungicide business	acq
Sustec Holdings/Sekundarrohstoff-Verwertungszentrum (SVZ)	Switzerland/Germany	methanol production	acq
Synthite/BIP	UK/UK	plastics, chemicals manufacturing and distributor	acq
Taminco/Jiangsu Feixiang Chemical	Belgium/China	methylamines and derivatives plant in China	75:25 jv
Teknos Group/Tikkurila	Finland/UK	coil coatings business	acq
Texas Pacific Group/British Vita	US/UK	PU foams producer	acq	$1.2bn
Total/Raffineria de Roma	France/Italy	Shell’s 20% stake	20% stake
Union Financiere Boel/Sofina	Belgium/Belgium	Solvay reduces stake	from 13% to 6.5%
Univar/Mapol	Netherlands/Poland	enzyme supplier	acq
Victrex/Degussa	UK/Germany	two oxidation plants at Seal Sands	acq	€24m
Vopak/Dupeg Tank Terminal (Vopak Dupeg Hamburg)	Netherlands/Germany	Lehnkering’s stake in the terminal	acq remaining 50% stake
Wacker-Chemie/ProThera	Germany/US	biotech	acq
WC Heraeus/BASF	Germany/Germany	ceramic decorative colour business. Excluding production facilities, personnel or the brand name Sicocer	acq
Wintershall/Gazprom	Germany/Russia	gas exploration jv	jv
Woellner/Rhodia	Germany/France	silicate manufacturing site in Nogent-L’Artaud	acq
Yara/Burrup Holdings	Norway/Australia	fertiliser business	30% stake	$100m

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