Macquarie Buys Currenta
Macquarie buys Currenta.
Bayer and Lanxess sell Currenta to Macquarie for $3.9 billion.
Currenta runs the infrastructure, energy supply, and critical services across chemical parks in Leverkusen, Dormagen, and Krefeld-Uerdingen.
Hartmut Klusik of Bayer said: ‘We are delighted to announce that in MIRA, the world’s leading infrastructure asset manager, we have found the right partner to drive the successful development of Currenta while leveraging its international ability. MIRA has a long-term focus and will also be a reliable employer for Currenta’s employees. Bayer and MIRA have reached an agreement on long-term service and supply contracts. We will continue to work with Currenta moving forward.’
Lanxess, a maker of lubricant additives, drug ingredients, and leather-tanning chemicals, will give MIRA working support throughout the changeover. Lanxess and MIRA have also reached an agreement on long-term service and supply contracts.
Matthias Zachert of Lanxess said: ’The heart of Lanxess production beats at the Lower Rhine sites. It was, therefore, crucial for us that the future Currenta owner structure should safeguard our strategic interest in an industry-oriented set-up of the chemical parks. With MIRA as an experienced and strong partner and with the long-term contract package, we have achieved this and secured a reliable infrastructure at competitive conditions for the future. At the same time, the sale of our stake will give us added financial leeway to drive forward our growth course in specialty chemicals.’
Bayer had originally proposed to sell its Currenta stake to industrial chemicals maker Covestro but could not agree on a valuation. Covestro and Lanxess, both former Bayer businesses, are Currenta's core customers.
Hilko Schomerus of Macquarie said: ‘MIRA is delighted to partner with Bayer and Lanxess to acquire Currenta. We are convinced of the integrated business model benefits of the Currenta group. As a long-term owner of essential infrastructure, MIRA is committed to working with the Currenta management team to ensure the longevity and ongoing success of the business for both customers and employees.’
Bayer and Lanxess sell Currenta to Macquarie for $3.9 billion.
Currenta runs the infrastructure, energy supply, and critical services across chemical parks in Leverkusen, Dormagen, and Krefeld-Uerdingen.
Hartmut Klusik of Bayer said: ‘We are delighted to announce that in MIRA, the world’s leading infrastructure asset manager, we have found the right partner to drive the successful development of Currenta while leveraging its international ability. MIRA has a long-term focus and will also be a reliable employer for Currenta’s employees. Bayer and MIRA have reached an agreement on long-term service and supply contracts. We will continue to work with Currenta moving forward.’
Lanxess, a maker of lubricant additives, drug ingredients, and leather-tanning chemicals, will give MIRA working support throughout the changeover. Lanxess and MIRA have also reached an agreement on long-term service and supply contracts.
Matthias Zachert of Lanxess said: ’The heart of Lanxess production beats at the Lower Rhine sites. It was, therefore, crucial for us that the future Currenta owner structure should safeguard our strategic interest in an industry-oriented set-up of the chemical parks. With MIRA as an experienced and strong partner and with the long-term contract package, we have achieved this and secured a reliable infrastructure at competitive conditions for the future. At the same time, the sale of our stake will give us added financial leeway to drive forward our growth course in specialty chemicals.’
Bayer had originally proposed to sell its Currenta stake to industrial chemicals maker Covestro but could not agree on a valuation. Covestro and Lanxess, both former Bayer businesses, are Currenta's core customers.
Hilko Schomerus of Macquarie said: ‘MIRA is delighted to partner with Bayer and Lanxess to acquire Currenta. We are convinced of the integrated business model benefits of the Currenta group. As a long-term owner of essential infrastructure, MIRA is committed to working with the Currenta management team to ensure the longevity and ongoing success of the business for both customers and employees.’
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