DSM ended a five year search for a buyer for its maleic anhydride derivatives business last week after bids failed to meet expectations.
The Dutch firm announced plans to sell the unit in 2007 when it decided to restructure its portfolio to focus on life sciences and materials sciences divisions and divest non-core businesses.
And while DSM managed a number of divestitures in the intervening period – selling its fertilizers and melamine businesses to Oraqscom and its special products and IP assets to Sun Capital in 2010 – it could not find a buyer for the maleic anhydride derivatives unit.
Or at least potential buyers it did find did not make attractive enough bids according to spokesman Herman Betten, who told Outsourcing-pharma.com that: “At the prices that were offered, we did not want to sell this business.”
Betten also said that: “Business conditions have improved” for maleic anhydride derivatives but did not provide additional details.