UPDATE 1-Brenntag lowers guidance on weak U.S. oil industry * Cuts adj EBITDA guidance to 790-810 mln eur* Weak demand from U.S. oil industry customers* Buys lubricants distributors with "resilient" business* Shares seen 9 pct lower (Add details on U.S. oil industry, takeover deals, analyst comment, share indication)By Ludwig BurgerFRANKFURT, Nov 5 (Reuters) - Brenntag, the world's largest chemicals distributor, cut its 2015 core profit guidance on weak demand from customers in the U.S. oil and gas industry, saying the $440 million acquisition of two U.S. lubricants distributors would make its business less cyclical. Germany's Brenntag said in now expects operating earnings before interest, taxes, depreciation and amortisation (EBITDA) of 790-810 million euros ($859-881 million), down from a previous range of 830-855 million."Results in North America were affected by continued weakness in oil and gas. An additional loss of momentum in the macro economy limited Brenntag's ability to compensate this," it said. Third-quarter EBITDA rose 7.5 percent to 204 million euros, below consensus in a Reuters poll of 213 million euros.The shares were seen 9 percent lower by brokerage Lang & Schwarz ahead of the 0800 GMT market open.Brenntag announced the takeover of two U.S. lubricants distributors, Texas-based J.A.M. Distributing Company and New Hampshire-based G.H. Berlin-Windward, for a combined $440 million. "Due to the resilient nature of the business these transactions will rebalance the portfolio in North America away from the more volatile oil and gas business," Brenntag said.The company has been growing through a string of small and medium-sized takeovers but some analysts have called into question its claim that size would translate into higher returns on investment."To fight against the slowdown of the underlying business Brenntag enters into further M&A. We expect a slightly negative reaction," said Baader Bank analyst Markus Mayer.($1 = 0.9199 euros) (Reporting by Ludwig Burger; Editing by Maria Sheahan)
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