35 – Nonadjusting events after the reporting period
On February 17, 2016, BASF announced that a general agreement had been reached with AkzoNobel on the sale of the Coatings division’s industrial coatings business for €475 million. The transaction would include technologies, patents and trademarks, as well as the transfer of two production sites in England and in South Africa. It is subject to consultation with employee representatives and certain regulatory approvals. At BASF, the industrial coatings business generated around €300 million in sales in 2015. BASF and AkzoNobel intend to complete the transaction by the end of 2016.