Specialty chemicals company, LANXESS has completedthe sale of its Urethane Systems business to Japanese UBECorporation on April 1, 2025. UBE is a global manufacturer of chemicalproducts and listed at the Tokyo Stock Exchange.

All relevant antitrust authorities had granted thenecessary approvals for the transaction, which was announced in October 2024. Withcompletion of this transaction, LANXESS has received gross cash proceeds ofapproximately €500-million. The enterprise value amounts to €460-million.

LANXESS intends to use the proceeds to redeem its€500-million benchmark bond which matures in May 2025. The leverage ratio (netfinancial debt / EBITDA pre) will be reduced to ~3x.

“With this sale, we conclude our portfoliotransformation and at the same time achieve a substantial further reduction ofnet financial debt”, says Matthias Zachert, Chairman of the Board of Managementof LANXESS AG.