German chemical company Lanxess on Saturday said it signed a deal to acquire U.S.-based specialty chemicals company Emerald Kalama Chemical for an enterprise value of about $1.08 billion. The acquisition will be financed by Lanxess’s existing liquidity, the company said in a statement, adding that the deal was expected to close in the second half of this year.

Lanxess will acquire Emerald from affiliates of American Securities LLC, it said.

Reporting by Derek Francis in Bengaluru; editing by Jonathan Oatis

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