- Free float increases to 86.3 percent
- 7.0 million shares for a total price of EUR 577.5 million sold
Brachem Acquisition S.C.A., the major shareholder of Brenntag AG, announced today that it placed 7.0 million shares of Brenntag AG for a price of EUR 82.50 per share with institutional investors in an accelerated bookbuilding process. Accordingly, the free float increases from nearly 73 percent to 86.3 percent. The transaction was led by Goldman Sachs.
Brenntag is the global market leader in full-line chemical distribution. Linking chemical manufacturers and chemical users, Brenntag provides business-to-business distribution solutions for industrial and specialty chemicals globally. With over 10,000 products and a world-class supplier base, Brenntag offers one-stop-shop solutions to about 160,000 customers. The value-added services include just-in-time delivery, product mixing, formulation, repackaging, inventory management, drum return handling as well as extensive technical support. Headquartered in Mülheim an der Ruhr, Germany, the company operates a global network with more than 400 locations in nearly 70 countries. In 2010 the company realized global sales of EUR 7.6 billion (USD 10.1 billion) with more than 12,000 employees.