Chemical
Advent passes on 2026 Envalior stake acquisition
The decision comes after LANXESS had tendered its stake in September 2025
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By ICN Bureau | March 10, 2026
Advent HoldCo will not acquire LANXESS’ stake in the ENVALIOR joint venture in 2026, the company confirmed, citing a contractually agreed financing condition.
The decision comes after LANXESS had tendered its stake in September 2025. As a result, the additional tender and purchase periods for 2027 and 2028 now apply, as outlined in the September 23, 2025, ad hoc announcement.
Despite the decision, LANXESS remains fully committed to ENVALIOR. The specialty chemicals company emphasized that it will “continue to play an active role as a committed joint venture partner in shaping the expected positive development of ENVALIOR.”
According to LANXESS, key drivers include the recovery of the market, synergy effects between the two companies, and consolidation among direct competitors.
Financially, LANXESS is solidly positioned even without proceeds from a 2026 sale. The company maintains a strong cash position and undrawn, firmly committed credit lines totaling more than EUR 1.35 billion, ensuring repayment of a bond maturing in October 2026. “The financing instruments are not subject to any financial covenants,” LANXESS confirmed.
The company also stressed that it retains unrestricted and broad access to the debt capital markets, while reducing financial debt remains a high priority.
