4 April 2006 - Cognis Holding Luxembourg S.àr.l., which is majority owned by the Permira Funds and GS Capital Partners, announced today that, in light of the attractive market environment, it has decided to explore and pursue various strategic options for the Company.
Cognis has mandated the investment banks Goldman Sachs and J.P. Morgan to assist in the review.
The Company has no further comment.
About Cognis:
Cognis is a worldwide supplier of innovative specialty chemicals and nutritional ingredients. The company employs about 8,000 people, and it operates production sites and service centers in 30 countries. Cognis has dedicated its activities to a high level of sustainability and delivers natural source raw materials and ingredients for food, nutrition and healthcare markets, and the cosmetics, detergents and cleaners industries. Another main focus is on products for a number of other industries, such as coatings and inks, lubricants, textiles, as well as agriculture and mining. The company holds a 50-percent stake in the joint venture Cognis Oleochemicals, one of the world’s leading manufacturers of natural-source oleochemical basestocks.
Cognis is owned by private equity funds advised by Permira, GS Capital Partners, and SV Life Sciences. In 2004, Cognis recorded sales of 3.07 billion euros and an Adjusted EBITDA (earnings before interest, income taxes, depreciation, amortization and exceptional items) of 362 million euros.