Specialty chemicals maker Lanxess (LXSG.DE) will offer to sell all of its 40.94% stake in Envalior to its joint venture partner, an investment company of Advent International, it said on Tuesday.
Lanxess said in a statement it had agreed to a base purchase price of around 1.2 billion euros ($1.42 billion) for the tendered shares.
"If and to what extent the share sale will be completed will be known by March 2026 at the latest," the company said.
Shares in Lanxess jumped 8.5% as of 1242 GMT, topping the Germany's mid-cap index (.MDAXI), and on target for their best day since March.
Potential adjustments to the purchase price may only arise from the development of Envalior's earnings before interest, taxes, depreciation and amortisation, it said.
The purchase price will increase, if the EBITDA in the 12 months to April 1, 2026, exceeds the core profit used as the basis for the valuation of the joint venture prior to the time of its incorporation.
If the current EBITDA falls below the historical EBITDA by more than 10%, the price will be reduced pro rata.
"Envalior's debt is not taken into account for the determination of the purchase price for the tendered shares," the chemicals group added.
($1 = 0.8478 euros)
