DSM: positive reaction to sale of business

(CercleFinance.com) - DSM shares are up 7% in Amsterdam today, boosted by the group announcing an agreement by which the Dutch chemical company will sell its Engineering Materials business to Advent International and Lanxess for an enterprise value of 3.
85 billion euros.

The proposed transaction marks the conclusion of DSM's review of strategic options for its two materials businesses and therefore completes its transformation into a science-based leader that is focused on health, nutrition and bioscience.

DSM expects to receive net cash of about 3.5 billion euros after the transaction is completed, which is subject to customary conditions and approvals and is expected to occur in the first half of 2023.


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