Swiss firm Sika offers to buy French chemical maker Parex for $2.6 billion

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(Reuters) – Sika AG (SIKA.S) said on Tuesday it made an offer to buy French chemical company Parex from a fund owned by CVC Capital Partners for an enterprise value of 2.5 billion Swiss francs ($2.55 billion).

The acquisition is expected to generate annual synergies of CHF 80 million-100 million, the Swiss construction chemicals maker said.

Sika said the deal is expected to add to its earnings per share starting the first full year post closing.

Reporting by Gaurika Juneja in Bengaluru; Editing by Gopakumar Warrier

Our Standards:The Thomson Reuters Trust Principles.

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