RAG Aktiengesellschaft, the majority shareholder in Degussa AG, announced last week a plan to achieve full ownership of the specialty chemical supplier by July. A Degussa spokeswoman said it is too early to say how the transaction might affect its subsidiary, lubricant additive maker RohMax.
Announced Dec. 19, RAGs plan calls for it pay 2.8 billion (U.S. $3.3 billion) to buy the 42.9 percent stake in Degussa now owned by E.ON AG. In addition, RAG aims to buy outstanding shares of Degussa stock – which amount to just over 7 percent of the company – for 42 per share. The latter value is 10.5 higher than the per-share price being paid to E.ON.
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