Henkel
This article was originally published in The Rose Sheet
Executive Summary
German consumer goods firm sells Cognis chemical products division to further develop core businesses in transaction valued at $2.35 bil. ([Euro]1=$.90), Henkel announces. Consortium of financial investors comprising Schroder Ventures and Goldman Sachs acquired the chemical division that served manufacturers of cosmetics, cleaners and detergents. Cognis business, which includes Oleochemicals, Care Chemicals and Organic Specialties, generated sales of $2.9 bil. in 2000 and represented 23% of Henkel sales. Agreement was signed Sept. 12 and is expected to close in November. Henkel announced it would consider selling Cognis to focus on Cosmetics/Toiletries, Laundry & Home Care and Adhesives last year (1"The Rose Sheet" Nov. 20, 2000, p. 7)
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