In December, Sika and MBCC Group received UK competition watchdog's approval for their 4.5 billion pound ($5.50 billion) merger on the condition they sell a part of the business to address competition concerns.

The deal values the Swiss chemicals firm's admixture business at $750 million and could be announced as soon as Monday, the report said.

Ineos, who declined to comment on the report, beat private equity firms including Cinven, CVC Capital Partners and Clayton, Dubilier & Rice (CD&R), Bloomberg said.

($1 = 0.8179 pounds)

(Reporting by Shubhendu Deshmukh in Bengaluru; Editing by Christina Fincher)