BASF to IPO Agriculture Business While Spinning Off Catalyst Division
What happened
BASF, the world’s largest chemical maker, is moving forward with a strategic corporate restructuring. The company is planning an initial public offering for its agriculture business, which focuses on seeds and crop protection chemicals. This business is being spun off into a separate firm called Metivo, which will handle the catalyst business. The catalyst business originated from the 2006 acquisition of Engelhard.
From acs.org
Why it matters
The IPO process involves major investment banks, including Goldman Sachs, Citigroup, and Deutsche Bank, who are managing the offering. The target date for the IPO is mid-2027. This move signals a major shift away from the traditional strategy of combining seeds with crop protection chemicals.
From acs.org
Who's involved
- BASFGlobal chemical company undergoing strategic corporate restructuring and spin-offs.
- EngelhardThe business lines acquired by BASF in 2006 that now form the catalyst division.
- Goldman SachsInvestment bank mandated to help manage the initial public offering of the agriculture business.
- CitigroupInvestment bank mandated to help manage the initial public offering of the agriculture business.
- Deutsche BankInvestment bank mandated to help manage the initial public offering of the agriculture business.
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The entities involved
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BASF
German chemical company with worldwide reach