Cologne. Germany – Lanxess plans to sell its remaining 50% stake in Arlanxeo to its joint venture partner Saudi Aramco, the companies announced 8 Aug.
The two companies, that founded the 50:50 synthetic rubber JV in 2016, signed a respective agreement 8 Aug.
With the Arlanxeo JV valued at €3.0 billion, Lanxess said it expects to receive around €1.4 billion in cash after deducting debt and other financial liabilities for its 50% share.
Completion is expected by the end of 2018, though Lanxess said the transaction requires approval…