January 8, 2019 / 10:34 AM / 5 months ago

BRIEF-Sika CEO rules out deal for whole BASF construction chemical business

Jan 8 (Reuters) - Sika AG would be interested in buying BASF’s construction chemicals business, but does not believe a deal for all the company would be possible because of anti-trust concerns by regulators.

“A complete takeover is not possible, it was never on the table,” Sika Chief Executive Paul Schuler told Reuters on Tuesday when asked about the business which could carry a price tag of around 3 billion Swiss francs.

Still Sika, which on Tuesday announced a 2.5 billion Swiss franc deal to buy French mortar business Parex, would be interested in parts of BASF, Schuler said.

Sika will focus on smaller deals for companies with sales of less than 50 million francs this year, Schuler said, with four to six deals in the pipeline.

Further company coverage: (Reporting by John Revill; editing by Jason Neely)

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