Lone Star has entered exclusive negotiations to buy BASF's construction che...
) construction chemicals business as the German chemicals company seeks to focus on more profitable operations, people close to the matter said.
The private equity firm vied with a consortium comprising buyout groups Cinven - which owns peer Chryso - and Bain for the world’s largest maker of chemical additives for concrete, they said. “We received confirmatory bids and are now progressing with a smaller number of interested parties,” he said at the time.
Lone Star had previously walked away from the bidding but was invited back to the negotiating table, sources have said.
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