Warren Buffett signed his biggest deal in just 3 years

Warren Buffett, a 95-year-old Chief Executive Officer of Kanglomaret Berkshire Hathaway, has made his biggest deal in three years-his last major acquisition as CEO.

Barkshire Announced In a press release on Thursday, he would acquire Oxidantle Petroleum’s Petrochemical Unit Oxichem for $ 9.7 billion in the all-cash deal. Oxichem produces chemicals such as chlorine for water treatment, calcium chloride and vinyl chloride for plastic for ice control on roads.

With oxycam acquisition, Berkshire is acquiring a strong portfolio of “operating assets” as well as “a skilled team”, said the vice-president of Greg Abel, Berkshire’s non-settlement operation., In release.

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Berkshire held a 28.2% stake in Oxidantl by the end of June after an initial. Investment of $ 10 billion Started the relationship in 2019. Buffett said Annual shareholder meeting In May 2023 that his company would not acquire Oxidantl all, although it can buy more shares of the company.

With oxycam acquisition, Berkshire is receiving “a skilled team”, with a strong portfolio of “operating assets”, the successor of Buffett, which is expected to handle the CEO’s position in January, Said in a press release,

This can be the last major thing of Buffett as CEO. But Shareholder meeting In 2021, Buffett revealed that Ebel would succeed him as CEO, clarifying at another shareholder meeting in May that the transition would be in January 2026. Abel is expected to capture the post of CEO in January and has worked in Berkshire About 25 years,

The deal is the largest of Berkshire since 2022, when it bought Alleghany for property and casualties insurance company $ 11.6 billionSince that acquisition, Berkshire’s cash reserves have increased as the company has fought to find major acquisitions. Berkshire now has a cash pile of $ 344 billion, which the company can spend on acquisition and investment.

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Oxidental said it would use $ 6.5 billion of transactions income to reduce its debt, which was More than $ 20 billion By June. The deal is expected to close in the fourth quarter of 2025 from early October to the end of December.

Oxichem is not the only chemical company in Berkshire’s portfolio. In 2011, Buffett Lead Acquisition of lubrizole, an American chemical firm that forms additives for gasoline and diesel fuel for $ 9 billion.

Buffett is the CEO and Chairman of Berkshire Hathaway since 1970. Under his leadership, the group has acquired several companies in decades, Involved See Candies, Durekel and Jioko. Berkshire also holds important minority bets in publicly trading companies, such as Apple, Coca-Cola and American Express.

Buffett is currently the world’s richest richest person, with A Total value $ 150 billionAccording to the Bloomberg billionaire index. Most of his fate, or $ 148 billion, is taken from his stake in Berkshire.

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