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UPDATE 1-Sika offers to buy French firm Parex for enterprise value of $2.6 bln


* Sika FY sales rise, beat its own target

* Sees 6-8 pct sales growth this year

* Sees 2018 oper profit in 940-960 mln francs range (Adds deal details, sales, outlook)

Jan 8 (Reuters) - Swiss chemicals company Sika AG on Tuesday offered to buy smaller French rival Parex for an enterprise value of 2.5 billion Swiss francs ($2.55 billion) from a fund owned by CVC Capital Partners, and said its full-year sales beat its target.

The acquisition is expected to generate annual synergies of 80-100 million francs, Sika said.

Sika, whose additives are used to waterproof and strengthen cement, said the deal is expected to add to its earnings per share starting the first full year post closing.

The Swiss company reported higher full-year sales of 7.09 billion Swiss francs for 2018, beating its target of achieving 7 billion francs for the first time.

Sika, which settled its long-running takeover battle with France's Saint-Gobain last year, said its local currency sales rose 13.7 percent from 6.25 billion francs a year earlier.

For this year, Sika expects sales growth of 6-8 percent, in line with its strategic targets, fueled by new factories and acquisitions. It expects an "over-proportional" rise in profit.

Depending on the closing date of the Parex deal, Sika said it expected sales to exceed 8 billion Swiss francs.

The company, which is due to report its full-year earnings on Feb. 22, said it expected 2018 operating profit in the range of 940-960 million francs.

The company has invested in its supply chain in the past year, with 11 new factories, another national subsidiary and four acquisitions, Chief Executive Paul Schuler said.

In October, CVC engaged investment bank Lazard to find a buyer for Parex, attracting interest from Chinese and Western construction materials groups.

Sika said it secured a bridge loan facility from UBS and Citi to fund the Parex deal. ($1 = 0.9823 Swiss francs) (Reporting by Gaurika Juneja and Ishita Chigilli Palli in Bengaluru; Editing by Gopakumar Warrier)