By: ICN Bureau
Last updated : April 02, 2021 7:59 am
DSM will receive approximately €1.4 billion net in cash.
Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, announces the completion of the sale of its resins & functional materials and associated businesses (RFM) to Covestro AG for an equity value of €1.6 billion. The proposed sale of RFM was first announced on 30 September 2020.
The transaction covers DSM’s resins & functional materials businesses, including DSM Niaga, DSM Additive Manufacturing, and the coatings activities of DSM Advanced Solar. DSM anticipates a book profit on the transaction of around €540 million. DSM will receive approximately €1.4 billion net in cash.