DUSSELDORF, Nov. 30--PRNewswire/AsiaNet
The Henkel Group has successfully completed the sale and transfer of ownership of its independent chemicals business Cognis on November 30, 2001 as planned. The transaction is based on an enterprise value of 2.5 billion euro. The purchaser is the investors consortium of funds advised by Permira, GS Capital Partners and Schroder Ventures Life Sciences.
States Dr. Ulrich Lehner, President and CEO of the Henkel Group:"Our focus is now on our two strategic businesses Brands and Technologies. With the proceeds from the sale of Cognis we will strengthen our existing businesses and ensure our long-term growth."
Henkel is a specialist in brands and technologies operating worldwide with affiliates in over 75 countries. The Company is the market leader in Adhesives and Surface Technologies. In Laundry & Home Care and in Cosmetics/Toiletries Henkel holds a leading position in Europe. With 60,475 employees, Henkel generated sales of 12.8 billion euro in 2000. In the first nine months of 2001, the Company realised sales of 10.0 billion euro.
Any forward-looking statements contained in this press release represent our best judgement as to what will occur in the future. The Company's actual results could differ materially from those contained herein and will depend on a number of competitive and economic factors, some of which will be outside the control of the Company.
SOURCE: Henkel Group
CONTACT: Ernst Primosch,
Corporate Communications of Henkel Group,
+49-211-797-3533, or fax, +49-211-798-2484, or
[email protected]
Web site: http://press.henkel.com