Clariant completes sale of its Pigments business
03 Enero 2022 - 11:00AM
Clariant completes sale of its Pigments business
AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR
- Divestment is a
final milestone in Clariant’s portfolio
transformation
- Clariant retains
a
20 % stake in newly
formed Group
- Net cash inflow
of approximately
CHF 615
million from
divestment at closing
will be invested
into growth
within the core Business
Areas, the ongoing
transformation and further debt
reduction
MUTTENZ, JANUARY
3, 2022
Clariant, a focused, sustainable and innovative specialty
chemical company, today 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.
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 3 000 employees generating approximately
EUR 1 billion in annual sales with strong service and
production capabilities across the globe. This roll-over allows
Clariant to further benefit from the improving profitability of the
Pigments business, participate in future growth opportunities and
realize synergies via the combination with Heubach’s Pigments
business.
Clariant’s net cash inflow after roll-over and initial debt
adjustments, but before closing account adjustments, tax,
transaction cost and a potential earn-out payment amounts to
approximately CHF 615 million. Clariant intends to use the proceeds
of the divestment to invest into growth projects within the core
Business Areas, execute the strategy along sustainability and
innovation, fund the performance improvement programs as well as
strengthen Clariant’s balance sheet to reach and defend a solid
investment rating.
“The Pigments divestment concludes Clariant’s transformation
into a high-value specialty chemical company, allows us to invest
in profitable growth in our most attractive segments and to address
the increasing demand for more sustainable products,” said Conrad
Keijzer, Chief Executive Officer of Clariant. “We are convinced
that the Heubach and SK Capital consortium is the best owner of the
Pigment activities and I wish our former colleagues all the best in
their new environment. Clariant looks forward to participating in
the group’s further development as a shareholder.”
CORPORATE
MEDIA RELATIONS Jochen DubielPhone
+41 61 469 63 63jochen.dubiel@clariant.com Anne
MaierPhone +41 61 469 63 63anne.maier@clariant.com
Ellese GolderPhone +41 61 469 63
63ellese.golder@clariant.com |
INVESTOR
RELATIONS Andreas Schwarzwälder
Phone +41 61 469 63 73andreas.schwarzwaelder@clariant.com
Maria IvekPhone +41 61 469 63
73maria.ivek@clariant.com Alexander
KambPhone +41 61 469 63 73alexander.kamb@clariant.com |
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media release contains certain statements that are neither reported
financial results nor other historical information. This document
also includes forward-looking statements. Because these
forward-looking statements are subject to risks and uncertainties,
actual future results may differ materially from those expressed in
or implied by the statements. Many of these risks and uncertainties
relate to factors that are beyond Clariant’s ability to control or
estimate precisely, such as future market conditions, currency
fluctuations, the behavior of other market participants, the
actions of governmental regulators and other risk factors such as:
the timing and strength of new product offerings; pricing
strategies of competitors; the Company’s ability to continue to
receive adequate products from its vendors on acceptable terms, or
at all, and to continue to obtain sufficient financing to meet its
liquidity needs; and changes in the political, social and
regulatory framework in which the Company operates or in economic
or technological trends or conditions, including currency
fluctuations, inflation and consumer confidence, on a global,
regional or national basis. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this document. Clariant does not undertake
any obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date of these materials. www.clariant.com
Clariant is a focused and innovative specialty chemical company
based in Muttenz near Basel/Switzerland. On 31 December 2020, the
company employed a total workforce of 13 235. In the financial year
2020, Clariant recorded sales of CHF 3.860 billion for its
continuing businesses. The company reports in three business areas:
Care Chemicals, Catalysis and Natural Resources. Clariant’s
corporate strategy is led by the overarching purpose of ‘Greater
chemistry – between people and planet’ and reflects the
importance of connecting customer focus, innovation,
sustainability, and people. |
- Clariant Media Release Clariant completes sale of its Pigments
business_20220103_EN
- Clariant Media Release Clariant completes sale of its Pigments
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