24. Jan 2023 | Markets & Companies
Sika to sell selected MBCC Group admixture assets
Sika AG and Ineos Enterprises, a subsidiary of Ineos, have signed an agreement for the acquisition of MBCC Group’s admixtures business in the US, Canada, Europe, and the UK and its entire operations in Australia and New Zealand (“Disposal Perimeter”) by Ineos Enterprises. The divestment is part of the required remedy process in Sika’s acquisition of MBCC Group.
Production sites and sales offices in 36 countries
The Disposal Perimeter generated net sales of around EUR 917 million by the end of 2022 and includes production sites and sales offices in 36 countries with more than 1600 employees. The completion of the transaction as well as Sika’s acquisition of MBCC Group are subject to regulatory approvals and expected in first half of 2023. Sika expects annual synergies of EUR 160-180 million following closing. The company has already received unconditional regulatory approval for the acquisition of MBCC Group in countries such as Japan, China, Brazil, South Africa, Saudi Arabia, Turkey, Thailand, and Mexico.
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