Sika has completed its acquisition of Germany-based MBCC after receiving all necessary regulatory approvals, the Swiss chemicals company said on Tuesday.
In order to get the approvals Sika said it had agreed to divest MBCC’s chemical admixture business in a number of markets. Some regulators were concerned the deal would reduce competition for chemical admixtures and concrete admixtures.
The business Sika is buying generated sales of 2.1 billion Swiss francs ($2.35 billion) in 2022, employs 6,200 people and operates in more than 60 countries and 95 production facilities.
Sika said the combined group is set to reach sales in excess of 12 billion Swiss francs in 2023.
Source: Reuters.com