Sika Paves Way for MBCC Acquisition Just after Sale of Admixtures Enterprises to Ineos

By Ed Frankl

Sika AG moved closer Monday to the acquisition of MBCC Team immediately after it agreed to offer some of MBCC’s admixtures assets to Ineos Enterprises.

Sika said Ineos would acquire MBCC’s admixtures business in the U.S., Canada, Europe, and the U.K. and its full operations in Australia and New Zealand, corporations which had created net income of about 920 million Swiss francs ($993.2 million) by the end of 2022.

The divestment is component of the antitrust treatment course of action for Sika’s CHF5.5 billion acquisition of MBCC Group.

U.K. competition regulators acknowledged proposals by Sika and MBCC in December to market some of the latter’s assets to avoid the merger from harming the British building field.

Sika expects once-a-year synergies of CHF160 million-CHF180 million following closing.

The deal is anticipated to complete in the to start with 50 % of 2023, issue to regulatory approvals.

Write to Ed Frankl at edward.frankl@dowjones.com

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