Deal includes parts of BASF's active pharmaceutical ingredients business
BASF has sold its pharmaceutical custom synthesis business and parts of its active pharmaceutical ingredients (APIs) business to Siegfried Holding for €270m.
The sale was first announced in May and the relevant merger control approvals have now been granted.
From today, Siegfried Holding has taken over the operational management of the businesses and around 850 people have transferred to Siegfried.
The APIs sold to Siegfried include ephedrine, pseudoephedrine and caffeine.
Ibuprofen, omega-3 fatty acids and polyethylenglycol (PEG) will remain a key part of BASF’s portfolio.