By Giulia Petroni

BASF SE said Thursday that it has agreed to sell its kaolin minerals business to U.S.-based minerals company KaMin for un undisclosed sum.

The German chemicals conglomerate said the divestiture includes production hub with sites and related mines, reserves and mills in Georgia, U.S. Co-located refinery catalysts operations will continued to be owned by BASF.

The kaolin minerals business is part of the group's performance chemicals division and counts approximately 440 employees. Last year, it generated sales of around 155 million euros ($175.3 million).

The transaction is expected to close in the second half of 2022, pending approval by the relevant merger control authorities.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

November 18, 2021 11:33 ET (16:33 GMT)

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