3 – Acquisitions and Divestitures


In 2021, BASF sold the following activities:

  • On May 31, 2021, BASF completed the sale of its production site in Kankakee, Illinois, to a subsidiary of One Rock Capital Partners, LLC. The transaction included the associated businesses including vegetable-oil-based sterols and natural vitamin E, anionic surfactants and esters produced at the Kankakee site. The transaction affected the Nutrition & Health and Care Chemicals divisions.
  • Following the fulfillment of clearance conditions, BASF closed the divestiture of its global pigments business to the company DIC, Tokyo, Japan, on June 30, 2021. The business transfer agreement was signed on August 29, 2019. The purchase price on a cash and debt-free basis was €1.15 billion. The sale affected approximately 2,600 employees in the Dispersions & Pigments division.

The calculation of the disposal result from the global pigments business is presented in the following table:

Calculation of the disposal result from the global pigments business (Million €)


June 30, 2021

Purchase price on a cash and debt-free basis


Purchase price adjustmentsa


Purchase price


Disposed net assets


Assets of the disposal group


Reinstated receivables


Liabilities of the disposal group


Reinstated liabilities




Disposal result before taxes


Tax expense


Disposal result after taxes



Purchase price adjustments take into account, among other things, cash, financial indebtedness and pension obligations.

Agreed transactions

BASF and Shanshan, a leading provider of lithium-ion battery materials, agreed on May 20, 2021 to form a BASF majority-owned joint venture (BASF: 51%; Shanshan: 49%) to produce cathode active materials (CAM) and precursors (PCAM) in China. Through the formation of this planned joint venture in China, BASF is further strengthening its position in Asia to create an integrated global supply chain for customers in China and worldwide. The transaction includes four companies and approximately 1,400 employees. It strengthens the Catalysts division and is expected to be completed in the second half of 2021, subject to the approval of the relevant authorities.