Brother Enterprises Holding Co.,Ltd. (SZSE:002562) signed an agreement to acquire Chrome International South Africa (Pty) Limited from LANXESS Aktiengesellschaft (XTRA:LXS) for €83.1 million on August 12, 2019. Chrome International South Africa generated an annual sales of around €100 million during the year ending December 31, 2018. The plant in Newcastle with around 220 employees will be taken over by Brother Enterprises as part of the transaction. The transaction is still subject to approval by the relevant antitrust authorities. As of August 13, 2019, Brother Enterprises and Lanxess have completed relevant internal approvals for the said matter. The transaction is subject to the approval of acquirer shareholders. As of January 10, 2020, all relevant antitrust authorities have given necessary approvals. LANXESS expects to complete the planned transaction by the end of 2019. KPMG Corporate Finance Inc. acted as Due Diligence Provider and Financial Advisor to LANXESS Aktiengesellschaft.

Brother Enterprises Holding Co.,Ltd. (SZSE:002562) completed the acquisition of Chrome International South Africa (Pty) Limited from LANXESS Aktiengesellschaft (XTRA:LXS) for approximately €80 million on January 10, 2020. With this transaction, Brother Enterprises has also taken over the Newcastle site in South Africa with around 220 employees from LANXESS.