|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||36.38 - 36.38|
|52 Week Range||32.69 - 76.88|
|Beta (5Y Monthly)||1.81|
|PE Ratio (TTM)||12.42|
|Forward Dividend & Yield||1.13 (3.11%)|
|Ex-Dividend Date||May 26, 2022|
|1y Target Est||N/A|
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There are few companies with more at stake from Russian natural-gas flows into Germany than the chemicals sector.
Lanxess AG shares jumped on Tuesday after it said that it would join with private-equity firm Advent International Corp. to buy Royal DSM NV’s engineering-materials business for around 3.7 billion euros ($3.99 billion), creating a new venture for high-performance plastics, and said that it would start a new share buyback. At 0745 GMT, Lanxess (XE:LXS) shares were up 11.5% to EUR43.51. Advent will hold at least 60% in the joint venture, Lanxess said.
Lanxess AG said Tuesday that it would join with private-equity firm Advent International Corp. to buy Royal DSM NV's engineering-materials business for around 3.7 billion euros ($3.99 billion) and create a new venture for high-performance plastics. The DSM engineering-materials business, which would become part of the joint venture, represents sales of around EUR1.5 billion and operating-profit margin of around 20%, Lanxess said. The German chemical company said it would also transfer its own high-performance materials business into the joint venture, and receive EUR1.1 billion initially and a stake of up to 40% in the new business.