Merck KGaA announced Tuesday that Sigma-Aldrich agreed to sell its branded solvents and inorganics business in Europe to Honeywell for around 105 million euros ($119 million) to fulfill EU commitments related to its $17-billion takeover by the German company. "This is another key step towards completing the acquisition of Sigma-Aldrich," remarked Merck executive board member Bernd Reckmann.
In June, the EU granted conditional approval of Merck's purchase of Sigma-Aldrich contingent on certain commitments, which included the companies agreeing to divest parts of Sigma-Aldrich's solvents and inorganics business in Europe, including its manufacturing assets in Seelze, Germany.
Merck said Tuesday that it continues to expect the transaction to close by the end of November.
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