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Chemicals group Lanxess to sell organic leather…

Aug 13 – German specialty chemicals maker Lanxess said on Thursday it has agreed to sell its organic leather chemicals business to TFL Ledertechnik GmbH.

Lanxess said the fixed part of the purchase price would be 80 million euros ($94.4 million), while a performance-related part could go up to 115 million euros.

The company reported earnings before interest, tax, depreciation and amortization before exceptional items came in at 224 million euros, above a consensus estimate of 217.0 million euros seen in a company-provided poll. ($1 = 0.8472 euros) (Reporting by Milla Nissi in Gdansk)

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