Clariant closessale leather services business Stahl Holdings

Clariant closes the sale of leather services business to Stahl Holdings

11:51 AM, 2nd May 2014
Clariant closes the sale of leather services business to Stahl Holdings

MUTTENZ, SWITZERLAND: Clariant, a world leader in specialty chemicals, announced the closing of the sale of its Leather Services business to Stahl Holdings BV as of 30 April 2014. Stahl, majority owned by Wendel Group, is a Dutch company providing high-quality chemicals, dyes and coatings for leather and other applications. The combination of both businesses has created a global leader in leather chemicals with a higher growth profile than the standalone entities and with significant synergy potential.

As announced on 30 October 2013, Clariant has received a cash consideration and a 23 per cent stake in Stahl for the sale of its Leather Services business. The minority shareholding will allow Clariant to participate in the upside potential of the enlarged Stahl. Wendel remains the principal shareholder of Stahl with approximately 70 per cent of Stahl’s capital.

The closing of the Leather Services transaction marks the last major step in the repositioning of Clariant’s portfolio. The company has already divested the business units textile chemicals, paper specialties and the business line emulsions on 30 September 2013, as well as the detergents & intermediates business on 6 January 2014.

 

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