OR WAIT 15 SECS
BASF completes sale of custom synthesis business and parts of its API business to Siegfried Holding.
BASF announced on Oct. 1. 2015 that the company had completed the sale of its pharma custom synthesis business and parts of its APIs business to Siegfried Holding AG.
Effective Oct. 1, Siegfried Holding AG assumed operational management of the businesses; about 850 employees transfer to Siegfried as part of the transaction. The enterprise value is approximately €270 million.
BASF will provide transitional services until late 2016, including sales and distribution of the divested API portfolio as non-exclusive distributor for Siegfried, BASF reports. The pharma custom synthesis business has been transferred in its entirety to Siegfried.
BASF reports the company is focusing its pharmaceutical ingredients and services business on its core expertise in pharmaceutical excipients. Selected APIs, such as ibuprofen, omega-3 fatty acids and polyethylenglycol, where the company has a leading market position, will remain part of BASF’s portfolio.