"We are excited about the opportunity to add the high-performance Darex business to our existing Adhesives Technologies portfolio. We are glad that we are now entering into exclusive negotiations about a possible acquisition. Darex's experience in developing innovative, high-performance sealants and coatings will underpin our commitment to provide our global customers with best-in-class solutions. This business is the perfect fit for our existing portfolio serving the metal packing industry and would therefore strengthen our position in this highly attractive and non-cyclical business. We would be happy to welcome to Henkel such a successful and experienced strong team with long-standing business expertise," said Jan-Dirk Auris, Executive Vice President Adhesive Technologies at Henkel.

In connection with this binding offer, GCP will begin a consultation process with the relevant Works Councils and Labor Unions. Upon completion of that process, it is intended to enter into a definitive purchase and sale agreement in respect of the proposed sale. The proposed transaction will also be subject to customary closing conditions, including regulatory approvals.

In fiscal 2016, Henkel's Adhesive Technologies business unit generated sales of around 9 billion euros, making Henkel the leading solution provider for adhesives, sealants and functional coatings.

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