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Industry News, Mergers and Acquisitions, Suppliers News

Closing Date of DIC’s Acquisition of BASF Colors & Effects Pushed Back

Announced acquisition on Aug. 29, 2019, and expected closing was scheduled for late 2020.

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By: Anthony Locicero

Copy editor, New York Post

DIC Corporation announced on Aug. 29, 2019, that it had resolved to acquire the shares and assets of the Colors & Effects business of BASF SE, and entered into a sales and purchase agreement. 
 
DIC said that the closing of this transaction, originally scheduled for late 2020, is now expected to take place in the first quarter of 2021. 
 
Closing is subject to approval by the antitrust authorities of the relevant countries. 
 
While DIC had been working closely with BASF to complete closing by the end of 2020, related procedures are still ongoing as a result of delays from the original schedule. 
 
Accordingly, DIC made the decision—in consultation with BASF—to change the closing schedule. 
 
DIC does not expect the rescheduling to affect its fiscal year 2020 operating results as it had not incorporated any impact from this transaction into its full-term forecasts.

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