PRINT THIS PAGE CVC close to buying BASF's ink business30/09/2004. Source: AltAssets. 
 Pan-European buy-out firm CVC Capital Partners is close to acquiring the printing ink business of German chemical group BASF. The deal is likely to be valued at between E600m and E700m.
The printing inks business manufactures products for labelling and packaging and has annual sales of more than E3bn, according to a report by Reuters.
CVC is also in talks to buy ANI, the former inks business of Dutch Akzo Nobel, which was spun off to management in 2002. The private equity firm plans to combine the two businesses.
The chemicals industry has become a popular investment target for private equity firms in recent years, reflecting the volume of opportunities emerging from cyclical restructuring during the present downturn. Permira, GS Capital Partners and Schroder Ventures acquired Cognis from Henkel in 2001, Blackstone acquired Celanese in a E3.1bn take private deal earlier this year and Kohlberg Kravis Roberts bought Dynamit Nobel from MG Technologies for E2.5bn.
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