BASF Confirms Exploration of Potential Acquisition of Evonik; RAG Foundation Holds Approximately 44% Stake

en.Wedoany.com Reported - On September 25, BASF confirmed that it is in exploratory talks with Germany's RAG Foundation and Evonik Industries regarding a potential acquisition of Evonik. BASF stated that the negotiation process and outcome remain uncertain at this time, and if disclosure conditions required by regulators are subsequently met, the company will promptly disclose to the market in accordance with applicable regulations.

The RAG Foundation currently holds approximately 44% of Evonik's shares and is a significant shareholder of Evonik. The RAG Foundation disclosed that its capital investment portfolio includes Evonik, Vivawest, and other global equities, bonds, funds, and infrastructure assets; as of now, its shareholding in Evonik is approximately 44%. In June of this year, the RAG Foundation also issued bonds totaling approximately EUR 375 million that are exchangeable into Evonik shares.

Evonik is currently advancing a new round of business restructuring. On September 22, the company announced its growth and adjustment plan for the next three years, including further reducing the group's cost base, cutting approximately 3,200 positions globally, and redefining the business positioning of its major German production sites. The company also stated that it will exit certain businesses lacking long-term development prospects internally and shift more investment focus toward Asia and the Americas.

In this confirmation, BASF did not disclose the potential transaction price, acquisition method, timeline, or financing arrangements. The company stated that its acquisition assessment primarily revolves around whether it can strengthen core businesses, create strategic synergies, drive profitable growth, and create value.