DGAP-Adhoc

LANXESS Aktiengesellschaft: LANXESS and Advent establish a leading global joint venture for high-performance plastics

DGAP-Ad-hoc: LANXESS Aktiengesellschaft / Key word(s): Strategic Company Decision/Joint Venture LANXESS Aktiengesellschaft: LANXESS and Advent establish a leading global joint venture for high-performance plastics 31-May-2022 / 08:02 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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Ad hoc according to  Art. 17 paragraph 1 MMVO

LANXESS and Advent International establish a leading global joint venture for high-performance engineering polymers

• LANXESS transfers High-Performance Materials business into joint venture
• LANXESS High Performance Materials business valued at EUR 2.5 billion.
• LANXESS receives a payment of at least EUR 1.1 billion at closing and a stake of up to 40 percent in the joint venture
• LANXESS and Advent to acquire Engineering Materials business from DSM for a purchase price of around EUR 3.7 billion financed by Advent. This business will also be contributed to the new joint venture
• Substantial synergies expected
• LANXESS to use proceeds for debt reduction and share buy back
• New joint venture with pioneering product portfolio and integrated value chain

Specialty chemicals company LANXESS and Advent International (“Advent”) are establishing a joint venture for engineering and high-performance polymers.
LANXESS contributes its High Performance Materials (HPM) business unit which is valued at EUR 2.5 billion to the joint venture and will receive an initial payment of at least EUR 1.1 billion and a share of up to 40 percent in the future joint venture. Advent will hold at least 60 percent of the joint venture. LANXESS plans to use the proceeds for debt reduction and for a share buy-back in the amount of up to EUR 300 million.