Shares in Lanxess tumbled on Friday to a 17-year low after the German speciality chemicals maker said that an investment vehicle backed by European buyout group Advent no longer intends to take full ownership of a jointly held plastics business this year.
Lanxess late on Thursday said that the Advent-backed investment vehicle decided against the purchase of its remaining stake of just under 41% in the Envalior joint venture, a deal that would have entitled Lanxess to around 1.2 billion euros ($1.3… [885 chars]
Source: Reuters | Published: 2026-03-06T11:47:52Z
Credit: Reuters
