February 17, 2025 13:30 GMT
BASIC INDUSTRIES: BASF (BASGR: A3/A-/A): Brazilian Paints Sale
BASIC INDUSTRIES
Might help with liquidity at the margin
- BASF to sell Brazilian paint unit for $1.15bn cash
- Deal to close 2H 25
- Unit generates $525m sales so on 12% EBITDA Margin that would be $63m earnings
- Reduces leverage by 0.1x which is immaterial
- BASF has €1.9bn in bonds falling due in 2025
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