# LANXESS and Advent to combine HPM and DEM businesses in joint venture

The Competition Commission of India has approved the consolidation of LANXESS AG's High Performance Materials (HPM) business and Koninklijke DSM N.V.'s DEM (engineering materials) business under a joint venture, Zehnte LXS GmbH, to be jointly controlled by Advent International and LANXESS. Advent will hold 58-70% and LANXESS 30-42%.

- Type: Acquisition
- Announced: 2023-02-13
- Where: Germany, close to the Dutch border, Germany
- Value: $1.18B (1.10B EUR)
- Status: announced
- Products: high-performance thermoplastic polymers, engineering materials
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [LANXESS](https://endata.com/companies/15514.md)
- [Advent International](https://endata.com/companies/430.md) (investor)
- [LANXESS](https://endata.com/companies/15514.md) (acquirer)
- [DSM](https://endata.com/companies/25138.md) (target)
- [Koninklijke DSM](https://endata.com/companies/62388.md) (target)
- [Zehnte LXS GmbH](https://endata.com/companies/68506.md) (partner)

## Sources

- [pib.gov.in](https://www.pib.gov.in/PressReleaseIframePage.aspx?PRID=1898910), 2023-02-13: "The Proposed Combination envisages: - the consolidation of the HPM Business and DEM Business under Zehnte LXS GmbH (JV HoldCo); - the acquisition of joint control by Platin 2170 GmbH (Advent HoldCo) and LANXESS Deutschland GmbH (LDG) over JV HoldCo"
- [chemanager-online.com](https://chemanager-online.com/en/news/all-signals-point-to-go-for-new-plastics-firm), 2023-02-16: "The companies said they now expect to close the deal by the beginning of April at the latest."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.