Covestro completed the acquisition of DSM's Resins and Functional Materials business for $1.88bn.

Covestro, a German company which produces a variety of polyurethane and polycarbonate-based raw materials, completed the acquisition of the Resins and Functional Materials business of Royal DSM, a Dutch multinational corporation active in the fields of health, nutrition and materials, for $1.88bn. “The acquisition is strategically and financially a perfect opportunity for us to pursue our long-term growth strategy at highly attractive conditions and tangible synergies. With the chosen financing structure, we are striking the right balance between equity and debt. We look forward to welcoming our new colleagues under the Covestro roof soon. Together, we will work towards bringing our joint potential to life,” Thomas Toepfer, Covestro CFO and Labor Director.