Cross-Border Transaction Completed
Official: Brother Enterprises successfully completes the acquisition of the chrome chemicals business of German chemicals group LANXESS.
Chrome Chemicals Business in Newcastle, ZA
The acquisition was announced in August but was subject to approval by the relevant antitrust authorities. These have now been granted. The transaction brings LANXESS proceeds of EUR 80m.
Brother Enterprises will take over the site in South Africa. Mirko Heide, Executive Director at IEG states: "This Sino-German transaction is a great success and will bring Brother to the next level by becoming a true global player in its field. We are proud to have supported Brother on this important acquisition."
IEG - Investment Banking Group acted as exclusive financial advisor for Brother Enterprises during the entire transaction process. Brother Enterprises is a China-based company principally engaged in the research, development, manufacturing and sale of new fine chemical products, including vitamin and leather chemical products.
For further information about the transaction, please refer here.
Picture © LANXESS