March 10, 2026 14:03

As it awaits the release of its financial results for fiscal year 2025, Germany’s Lanxess has announced that Advent will not acquire the 40.94% stake in the Envalior joint venture this year.

The German chemicals group had decided to divest the holding last September by exercising the option provided for in the agreement signed three years ago. Advent had until the end of March to notify its decision on whether to exercise the purchase option, valued at EUR 1.2 billion. The transaction could have been completed either in full or in part.

Under the agreement, two further windows now open. In 2027, Advent will have the right to acquire the shares at the same price set for this year. If that option is not exercised, Lanxess will again be able to relaunch the tender right from April 1, 2028, under the same valuation and execution rules. In two years’ time, however, the transfer of 50% of the shares held by Lanxess will no longer be subject to a financing condition or any other conditions.

Even without the proceeds from the sale of its stake, Lanxess remains solidly financed, the company said in a statement. It has a strong cash position, in addition to undrawn committed credit lines totaling more than EUR 1.35 billion, ensuring repayment of the bond maturing in October.

With revenue of around EUR 3 billion and 4,000 employees, Envalior ranks among the world’s leading producers of engineering plastics. The company is structured around three main divisions: Performance Materials, Specialty Materials and Intermediates. It has 18 production sites, 14 research and development centers, and numerous sales offices across Europe, Asia and the Americas.

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