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LANXESS Aktiengesellschaft (LXS.DE)

XETRA - XETRA Delayed Price. Currency in EUR
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34.96+0.39 (+1.13%)
As of 04:46PM CEST. Market open.
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    There are few companies with more at stake from Russian natural-gas flows into Germany than the chemicals sector.

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    Lanxess and DSM each rally after inking deals

    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.

  • MarketWatch

    Lanxess, Advent to Buy DSM's Engineering Business in $4 Bln Deal

    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.

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