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Sika’s MBCC acquisition delayed after UK inquiry launched

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Reuters UK

ZURICH (Reuters) -Sika said its acquisition of MBCC Group, the former BASF Construction Chemicals business, is expected to be completed later than expected after Britain’s Competition and Markets Authority decided to conduct an in-depth examination of the market. The closing of the 5.5 billion Swiss franc ($5.77 billion)deal is now targeted for the first half of 2023, rather than the previously expected end of 2022, Sika said on Wednesday. “The adapted timeline will not impact the strategic attractiveness of the transaction,” Sika CEO Thomas Hasler said in a statement. “It remains highly accre…

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