Clariant Chemicals gains over 1% on completion of sale of its pigment business

4 Jan 2022 , 09:30 AM

Clariant Chemicals (India) Limited informed the exchanges Monday that its ultimate global holding company, Clariant AG announced that it has completed the sale of its Pigments business to a consortium of Heubach Group and SK Capital Partners.

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.

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, our ultimate global holding Company will be the newly combined Heubach Group.

At around 9.30 am, Clariant Chemicals (India) Ltd was trading at Rs498.40 per piece up by Rs6 or 1.22% from its previous closing of Rs492.40 per piece on the BSE.