BASF SE (XTRA:BAS) and Clayton, Dubilier & Rice, or CD&R, are looking into a potential sale or an initial public offering (IPO) of US-based water treatment firm Solenis, Bloomberg reported citing sources in the know. The two owners will allegedly seek a valuation of up to USD 5 billion (EUR 4.1 billion), including debt. BASF and CD&R have already picked advisers about their potential exit from the business. They have discussed a sale with a few blank check firms, one of which was founded by Chinh Chu, a former Blackstone Group executive, the people said. They noted that it is not certain that an agreement would be reached.