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Cognis

This article was originally published in The Tan Sheet

Executive Summary

Schroder Ventures' funds and Goldman Sachs Capital Partners agree to purchase nutritionals, ingredients and chemicals arm of Henkel KgaA for $2.37 bil. ([Euro]1=$.91) before year-end, firms announce Sept. 13. Cognis, headquartered in Roermond, Holland, will retain current management team and continue to focus on natural oils, which Schroder and Goldman Sachs view as business growth platform. During first half of 2001, Cognis' sales grew 4% to $1.37 bil.; firm generated sales of $2.91 bil. in 2000. Schroder, Goldman Sachs anticipate continued sales growth of at least 6%-7% per year. Firms expect agreement will be finalized by end of November, however, due to market uncertainty after terrorist attacks in U.S., Henkel has granted the two suitors the absolute right to withdraw from the deal within two months
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