Clariant Chemicals completes sale of pigments business; Stock rises

5 Jan 2022 , 03:01 PM

Clariant Chemicals (India) Ltd-led global holding Company, Clariant AG (“Clariant”) has announced that it has completed the sale of its Pigments business to a consortium of Heubach Group (“Heubach”) and SK Capital Partners (“SK Capital”).

As announced upon signing of the transaction, the base enterprise value of the sale amounts to CHF 805 million subject to closing accounts adjustments and before a potential earn-out payment of CHF 50 million which is subject to the business’ 2021 financial performance.

Further, Clariant rolled over approximately CHF 115 million to retain a 20% stake in the new holding company, alongside Heubach and SK Capital. This combined business is a global pigments player with approximately 3000 employees generating approximately EUR 1 billion in annual sales with strong service and production capabilities across the globe.

Consequent to this deal, company’s ultimate global holding Company will be the newly combined Heubach Group.

At around 3:03 PM, Clariant Chemicals (India) was trading at Rs493.65 apiece up by Rs0.75 or 0.15% on the BSE.