Updated Dec. 6, 2023 5:15 pm ET
The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
1126 ET – Brenntag enacting major changes, like a break-up of its businesses, appears to be off the table until at least 2026, Jefferies analysts Chris Counihan and Charlie Bentley say in a research note. The German chemical company seemingly defers any potential business separation as it instead focuses on reorganizing its divisions. Starting from 1Q24, its pharma activities will be transferred to Brenntag’s specialties division whilst its water-treatment and finished-lubricants business will move to essentials. This results in essentials accounting for 70% of the group’s gross profit and specialties 30%, enabling Brenntag to be ready for next strategic steps by 2026, Jefferies analysts say. Shares trade 1.5% higher to EUR79.52 (nina.kienle@wsj.com)
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