Macquarie Infrastructure and Real Assets (MIRA) has agreed to purchase chemical park operator Currenta for €3.5 billion ($3.9 billion).
Currenta, a joint venture of Bayer and Lanxess, manages and operates infrastructure, energy supply and other essential services across the chemical parks in Leverkusen, Dormagen and Krefeld-Uerdingen in Germany, according to a statement issued by the companies.
Bayer and Lanxess signed agreements to sell their 60 percent and 40 percent stakes, respectively, in the company on Aug. 6, Bayer said in a statement.
Bayer’s 60 stake has an equity value of €1.17 billion ($1.3 billion), and the sale is part of Bayer’s planned divestment of an extensive package of real estate and infrastructure for €180 billion ($199 billion).
Lanxess will continue to provide MIRA with operational support during the transition and will hold its stake in Currenta until April 2020. The company’s 40 percent stake has an equity value of €780 million ($873 million). Lanxess also will benefit from profit participation until the transaction’s April closing, and as part of the agreement will also service and supply contracts for the three German chemical park sites.
Macquarie, the largest infrastructure investor in the world, has been active in Germany for 30 years and has extensive experience in Currenta’s core business areas, which include utilities, transport, logistics, storage, and waste management and treatment services.
The firm plans to invest heavily to improve Currenta’s operational performance, but will continue will not interfere with the company’s current workforce or the services being provided to customers.
