3 – Acquisitions and divestitures

As announced in February 2016, BASF reached an agreement with AkzoNobel on the sale of the Coatings division’s industrial coatings business for €475 million. The transaction includes technologies, patents and trademarks along with the transfer of two production sites in England and South Africa, and will require consultation with employee representatives and certain regulatory approvals. BASF generated around €300 million in sales in the industrial coatings business in 2015. BASF and AkzoNobel intend to complete the transaction by the end of 2016.