Competition Tribunal gives its approval for BASF coatings division buyout by Bond
The Competition Tribunal of South Africa has unconditionally approved the merger in which investment company Bond UK will acquire the coatings division of chemicals company BASF.
Following the merger, Bond UK will have sole control of BASF’s coatings division.
This is a global transaction that has also received unconditional competition authority approval in several other jurisdictions including Australia, Brazil, Canada, Morocco, North Macedonia, Saudi Arabia, Serbia, Ukraine and the US, the tribunal points out.
BASF Coatings develops and manufactures specialised coatings and surface treatments. These products are used by automotive manufacturers and component producers, as well as in industries such as aerospace, agriculture and construction equipment.
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