BASF Explores Potential Listing of Agricultural Chemicals Division
German chemical giant BASF SE is reportedly seeking proposals from banks for a potential initial public offering (IPO) of its agricultural chemicals division, with the United States and Germany as possible listing venues.
The move is part of a broader restructuring plan aimed at slashing costs by over €2 billion annually in Europe, amid a weakening industrial outlook.
BASF reportedly plans to retain advisors in the coming weeks and has not yet commented on the matter.
The agricultural chemicals unit reported sales of around €10 billion ($10.40 billion) in 2023, competing with industry giants Bayer, Corteva, and Syngenta.
In 2022, BASF announced plans for a partial listing of the division, acknowledging that the market had undervalued its growth potential.
The company is also considering strategic options for its coatings business, including potential joint ventures or a change in ownership.