Syensqo announced that it has completed the previously announced divestment of its Oil & Gas business unit to SNF Group for an Enterprise Value of €135 million. Syensqo’s Oil & Gas Business Unit, a global player in oilfield stimulation chemicals, generated net sales of approximately €400 million in 2024, or 6% of Syensqo’s total net sales, and employs approximately 600 people.
Syensqo has completed the divestment of its Oil & Gas business to SNF Group for €135 million (~$158.07 million).
The unit, generating around €400 million in 2024 sales and employing 600 people, represented 6 per cent of total revenue.
CEO Mike Radossich said the move supports Syensqo’s pure-play specialty strategy.
The divestment allows Syensqo to reinvest in its core businesses.
“I am pleased to start the year with the completion of the divestment of the Oil & Gas business. In addition to securing a positive outcome for all stakeholders, it advances our pure play specialty strategy and enables us to further sharpen our strategic focus and to invest in our core businesses” commented Mike Radossich, CEO of Syensqo. “I would also like to express my sincere gratitude to our colleagues and wish them continued success as they join SNF Group and embark on the next chapter of their journey.”
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ALCHEMPro News Desk (HU)