Lanxess buys U.S.-based Emerald for enterprise value of $1.08 billion

FILE PHOTO: A logo of Lanxess is seen next to dark clouds at Cologne Bonn airport March 27, 2015. REUTERS/Wolfgang Rattay

(Reuters) – German chemical company Lanxess on Saturday said it signed a deal to acquire U.S.-based specialty chemicals company Emerald Kalama Chemical for an enterprise value of about $1.08 billion.

The acquisition will be financed by Lanxess’s existing liquidity, the company said in a statement, adding that the deal was expected to close in the second half of this year.

Lanxess will acquire Emerald from affiliates of American Securities LLC, it said.

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