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DTCF Advises on the Sale of Degussa AG's Water Treatment Business

Cross-border transaction highlights DTCF’s global investment banking network

Deloitte & Touche Corporate Finance LLC (DTCF) assisted Deloitte & Touche LLP, United Kingdom (DTUK) in its provision of lead advisory services to Degussa AG on the sale of its water treatment business to Ashland Inc. The Degussa water treatment business posted 2005 sales of nearly $250 million.

The business, branded under the Stockhausen name, will be known as Environmental and Process Solutions and will operate as a business group of Ashland Water Technologies. Five manufacturing facilities located in Germany, China, Brazil, Russia and the United States were included in the transaction.

The mandate was secured through the DTUK Manufacturing team’s ongoing relationship with Degussa AG. This transaction represents DTUK’s seventh disposal for Degussa and highlights its sector knowledge and ability to advise on complex cross-border deals.

The deal was complex, featuring carve-out considerations, the fact that a mixture of both shares and assets were sold, and the geographical spread of the business (activities in over 20 countries). These issues, as well as the different cultures and practices across continents, are now regular occurrences in the increasingly global M&A market.


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