Sika AG (SWX:SIK) made a binding offer to acquire building adhesives business from Akzo Nobel NV (ENXTAM:AKZA) for €260 million on August 8, 2013. Building adhesives business reported annual revenues of €185 million in 2012. The transaction is subject to regular consultation with employee representatives is expected to be completed in the fourth quarter of this year. On September 13, 2013, the transaction was approved by CADE. Almost 550 employees will be transferred along with the business' two manufacturing facilities in Rosendahl and Damville and its products and brands. The proceeds will be used to repay short-term debt and improve liquidity.

Deutsche Bank acted as a financial advisor to Akzo Nobel. De Brauw Blackstone Westbroek acted as legal advisor to Sika. Anders Carlberg and Pia Vepsäläinen of Dittmar & Indrenius acted as legal advisors to Akzo Nobel NV. Florian Kästle, Nikolaus Reinhuber, Tilman Wink, Matthias Bassüner, Florian Thamm, Holger Engelkamp, Katharina Spenner. Heiko Carsten Franke, Christian Reichel, Lena Kern, Michael A. Fammler, Andrea Schmoll, Wojciech Kreft, Holger Lutz, Michaela Weigl, Julia Pfeil, Roman Michalczyk, Nicolas Kredel, Sarwenaz Kiani of Baker & McKenzie acted as legal advisor to Sika AG. Martin Simovart, Kris Tammistu and Karl Kull of LAWIN Tallinn acted as legal advisor for Sika AG. PWC acted as the accountant for the seller. KPMG AG, Schweiz, Corporate Finance Division acted as financial advisor, tax and pension due diligence as well as valuations advisor for Sika AG.