January 8, 2019 / 9:36 AM / 2 months ago

Sika CEO says buying Parex means a pause on large acquisitions

ZURICH, Jan 8 (Reuters) - Sika will pause on making further large scale acquisitions after the Swiss construction chemicals company's largest-ever deal to buy France's Parex worth 2.5 billion Swiss francs ($2.55 billion) on Tuesday.

Sika has been linked with the construction chemicals business of BASF, which could be worth around 3 billion euros according to analysts, as it seeks to consolidate the fragmented sector.

"We do this deal now and we aware it is the biggest thing we have acquired. We have a big plate, there will be a pause," Chief Executive Paul Schuler told a press conference in Zurich on Tuesday.

When asked about BASF, Schuler said "of course" Sika spoke to all potential targets.

"This is a great company, but we have to finish this job. That is our focus, and see what the future brings. It is not so that we are getting close to a deal for the BASF construction chemicals business."

$1 = 0.9802 Swiss francs Reporting by John Revill, editing by Louise Heavens

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