BASF set to buy Cognis for 3.2 bn euros: Report

BERLIN: German chemical giant BASF is set to buy German specialty chemicals maker Cognis for 3.2 billion euros, the Financial Times Deutschland reported in its Monday edition.

A final examination of Cognis' accounts has been completed and the agreement on the 3.2-billion-euro (four-billion-dollar) sale should be signed Tuesday, according to the newspaper's online edition, which cited people close to the matter.

Cognis's owners, US investment bank Goldman Sachs and an investment fund, have been holding exclusive talks with BASF, although several companies initially showed interest.

Cognis manufactures chemical additives used in a wide range of products from adhesives to cosmetics and lubricants.