DSM to complete sale of resins, functional materials to Covestro

DSM says it has completed the sale of the resins and functional materials businesses to Covestro for €1.6 billion ($1.9 billion), including €1.4 billion in cash. DSM expects to book a profit on the transaction of around €540 million.

DSM announced the deal on 30 September. It included DSM Niaga, DSM additive manufacturing, and the coatings activities of the DSM advanced solar business, which together represented €1.01 billion of DSM’s 2019 total annual net sales and €133 million of DSM’s 2019 total EBITDA.

Source: DSM

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