Henkel to sell Ecolab to help pay for National Starch

27 February 2008 14:20  [Source: ICIS news]

LONDON (ICIS news)--Henkel is to sell part or all of its stake in US hospital cleaning company Ecolab to help pay for its purchase two of the former ICI’s National Starch businesses for £2.7bn ($5.4m/€3.6bn), the German company said on Wednesday.

 

Henkel's 29.4% stake in Ecolab had a market value on December 31, 2007, of around $3.7bn, the company said in a statement.

 

A company spokesman confirmed the sale of Ecolab was connected to the raising of funds for the purchase of the adheisives and electronic materials busineses of National Starch but said no particular details relating to the sale could be released.

 

It was announced in August last year that Henkel would buy the two business units from Netherlands-based chemicals maker Akzo Nobel, which completed its takeover of ICI in January 2008. 

 

Henkel’s CEO Ulrich Lehner said the company would not sell more stock to finance the purchase of the starch businesses.

 

($1 = €0.67/£0.5)

By: Lucy Craymer
+44 20 8652 3214

< previous article(VIDEO - ICIS news Europe Lunchtime Bulletin 27 October 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly