Dusseldorf, Germany (PROTEXT/ots) - - Cross-reference: TV photos are available free of charge as
Original Video Service (ovs) Henkel KGaA has agreed to sell its chemical division Cognis toa consortium of financial investors comprising of SchroderVentures and Goldman Sachs Capital Partners. The transaction isbased on an enterprise value of 2.6 billion euro. Henkel hassucceeded in finding purchasers who are able to support thecontinued successful development of Cognis and thereby offer theCognis employees a promising perspective. The definite purchase agreement was signed by the parties onSeptember 12, 2001. Closing is planned for end of November 2001.Due to the current uncertain conditions in the financial marketsarising from the tragic events in the United States, Henkel hasgranted to the investors the absolute right to withdraw from thecontract within two months.The agreement is subject to customaryclosing conditions, including relevant regulatory approvals.Theproceeds from the sale of Cognis will increase Henkel's debtcapacity substantially and will be used for the furtherdevelopment of the core businesses. Cognis, the former Chemical Products business of Henkel and aleading worldwide supplier of specialty chemicals, was carved outfrom Henkel in 1999. The three divisions of the Cognis Group -Oleochemicals, Care Chemicals and Organic Specialties - serveinternational manufacturers of detergents, cleaners andcosmetics, as well as other industrial customers. With 9,100employees in 50 countries, Cognis generated sales of 3.2 billioneuro in 2000 and thus accounted for 23 percent of total HenkelGroup sales. In the first half-year of 2001, Cognis achieved anincrease in sales of 4 percent to 1.5 billion euro. Operatingprofit rose by 3.6 percent to 116 million euro. Henkel is a worldwide operating specialist in branded consumerproducts and industrial systems and service businesses withaffiliates in over 75 countries. Following the sale of Cognis andthe earlier announced transfer of its joint venture participationin Henkel-Ecolab to Ecolab Inc. on January 1, 2002, Henkel willfocus on two strong pillars: Brands and Technologies. In theseareas the Company is the worldwide market leader in Adhesives andSurface Technologies. In Laundry & Home Care and inCosmetics/Toiletries, Henkel holds a leading position in Europe.With 60,475 employees, Henkel generated sales of 12.8 billioneuro in 2000. In the first half-year of 2001 the Company(including Cognis) recorded sales of 6.7 billion euro. Schroder Ventures, headquartered in London, is a leadingEuropean private equity specialist with a strong network in theUK, Germany, France and Italy. Schroder Ventures has investedover US$ 2.9 billion in more than 400 companies and manages aportfolio of around 140 companies. One of the biggest recentacquisitions has been VEBA Electronics in 2000. Goldman Sachs Capital Partners is the private equity arm ofGoldman Sachs, one of the oldest and largest investment bankingfirms in the world. Headquartered in New York, it has 44 officesin 20 countries. Since 1986, Goldman Sachs Capital Partners hasinvested over US$ 9.5 billion in more than 470 companies invarious industry segments and has specific expertise with respectto investments in German companies, including the recentacquisition of Messer Griesheim from Aventis jointly with AllianzCapital Partners. Any forward-looking statements contained in this press releaserepresent our best judgement as to what will occur in the future.The Company's actual results could differ materially from thosecontained herein and will depend on a number of competitive andeconomic factors, some of which will be outside the control ofthe Company. Notwithstanding any legal obligation to correctforward-looking statements, the Company does not intend tocontinuously update any and all of the forward-lookingstatements. Note To Editors: TV photos free of charge go withthe Original Video Service (ovs). You will be charged only fortransmission. Please inform our partner RTC-Tvnews about yourpreference regarding receipt of pictures: phone +49-40-8533580,or footage@newsaktuell.de - Cross-reference: photos were sent via satellite and are
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Caption for both pictures:
Dr. Ulrich Lehner, President and Chief Executive Officer
Henkel Group, Foto: Henkel
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reference ots Original Text Service: Henkel Group Internet:http://www.presseportal.de Contact: Henkel Group CorporateCommunications Ernst Primosch Vice President Tel.: ++49-211-797-3533 Fax: ++49-211-798-2484 ernst.primosch@henkel.comhttp://www.henkel.com Photo material available athttp://www.pictures.henkel.com
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