The proposed transaction also includes BASF’s production sites in Minden, Germany, Evionnaz, Switzerland, and Saint-Vulbas, France.
About 850 positions globally are in the scope of the transaction and the two firms intend to transfer all affected employees to the acquiring company.
The divestment of these businesses is part of BASF’s plans to focus on its pharmaceutical ingredients & services business within the Nutrition & Health division on its core expertise in pharmaceutical excipients.
BASF member of the Board of Executive Directors Michael Heinz said: "BASF’s highly skilled team and its competitive plants for active pharmaceutical ingredients and custom synthesis will give the new owner a strong market position and will create additional value.
"This step is in line with BASF’s strategy of actively managing its portfolio and it will further sharpen the focus of the Performance Products segment on growth and high margin core businesses."
Subject to the necessary consultation procedure in France and approval by the antitrust authorities, the transaction is expected to be concluded in fall 2015.
Financing of the transaction was secured by a syndicate of Swiss banks and there were no plans for a capital increase.
Siegfried plans to issue a hybrid bond for partial refinancing after completion of the transaction. It will now continue operations at the three pharmaceutical supply business sites of BASF.
Following completion of the acquisition, Siegfried will review all of its existing and new production sites with regard to resource efficiency and synergy potential in order to raise competitiveness in the medium to long range.