Clariant hires former UBS banker manage M&A

Clariant hires former UBS banker to manage M&A

10:25 AM, 8th January 2016
Clariant hires former UBS banker to manage M&A

FRANKFURT, GERMANY: Clariant AG said that it has hired former senior UBS Group AG investment banker Alexander Gehrt as its new head of mergers and acquisitions amid a flurry of deals in the sector, people familiar with the matter.

Gehrt started on Jan and will oversee the company’s deal-making and treasury activities, the people said.

Clariant wasn’t immediately available to comment.

After joining UBS in 1997, Gehrt led the bank’s German mergers and acquisitions operations until his departure last summer. He advised on a number of large transactions, including Vodafone PLC’s $180 billion acquisition of Mannesmann AG in 2000, Vodafone’s €7.7 billion ($8.37 billion) purchase of German cable operator Kabel Deutschland AG in 2013, and Bayer AG on the 2013 sale of its interventional division for $415 million in cash to Boston Scientific Corp.

The chemicals sector has seen a flurry of high profile deals recently, including the announced $120 billion merger of US giants Dow Chemical Co and DuPont Co. Switzerland’s agrochemicals maker Syngenta AG is in talks over potential transactions with a number of rivals including China National Chemical Corp. and Monsanto Co according to executives and people familiar with the matter.

Clariant itself has been eyed by its larger German rival Evonik Industries AG, people familiar with the matter said.

Deal volume in the sector totalled $180 billion in 2015, up 73 percent from the previous year.

© Wall Street Journal News

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