By Olivia Bugault

Clariant AG said Tuesday that it has signed definitive agreements to buy the U.S. attapulgite business assets of BASF SE for $60 million.

The transaction should be completed next summer and will be paid in cash, the Swiss chemicals group said.

BASF's attapulgite business has operations in Georgia and Florida, Clariant said.

In 2020, it generated sales of about $36 million.

"The transaction will accrete to the natural resource's Ebitda [earnings before interest, taxes, depreciation, and amortization] margin profile and will support Clariant on its path towards its recently announced 2025 targets," the company said.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

December 28, 2021 01:40 ET (06:40 GMT)

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