Sika sells selected MBCC Group admixture assets to Cinven
On March 22, 2023, Sika announced that it agreed to sell MBCC Group’s chemical admixtures assets in England, the USA, Canada, Europe, Australia, and New Zealand (Disposal Perimeter) to private equity firm Cinven. The divestment of the Disposal Perimeter is part of the required remedy process for the approval of Sika's acquisition of MBCC Group (see separate release of November 11, 2022). The British Competition and Markets Authority (CMA) has already approved Cinven as a suitable buyer of the Disposal Perimeter. The closing of the divestment is expected to take place in the first half of 2023.
Lenz & Staehelin advises Sika in this transaction. The key team comprises Tino Gaberthüel (partner, Corporate/M&A) and Lukas Held (associate, Corporate/M&A).