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Sika CEO sees long list of potential buyers for MBCC assets

Reuters
·1-min read
FILE PHOTO: CEO Hasler of Swiss chemicals company Sika addresses a news conference in Zurich

ZURICH (Reuters) - Sika expects to complete in the first half of next year the sale of part of the MBCC business it has bought, Chief Executive Thomas Hasler said on Tuesday, with the Swiss chemicals company looking for a single buyer for the businesses.

Sika is selling admixture businesses in North America, Europe, and Australia and New Zealand which generated 850 million Swiss francs ($860 million) of sales to satisfy regulators looking into its acquisition of the rest of MBCC, the former construction chemicals business of BASF.

"We have a nice line-up of interested parties for this divestment," Hasler said at the Sika investor day. "We see high interest and are confident of finding a competent buyer in the first half of next year."

($1 = 0.9881 Swiss francs)

(Reporting by John Revill; Editing by Michael Shields)