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



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

SolarWindow appoints Patrick as VP, product development and engineering

COLUMBIA, US: SolarWindow Technologies, Inc, the leading developer of first-of-its-kind transparent electricity-generating coatings for glass and flex ...

Read more
L&T, McDermott consortium bags ONGC’s Rs 2,450 cr contract in India

MUMBAI, INDIA: Oil & Natural Gas Corporation (ONGC) said that it has awarded an offshore contract valued at Rs 2,450 crore to a consortium of McDe ...

Read more
Synthetic lubricants market projected to grow to $36 billion by 2020

PUNE, INDIA: The global synthetic lubricants market is projected to reach $36 billion by 2020 from $31 billion in 2014, at a CAGR of 2.5 percent betwe ...

Read more
Arrow Coated acquires facility in UK, boosts European business

MUMBAI, INDIA: Arrow Coated Products (UK) Ltd, a fully owned subsidiary of Arrow Coated Products Ltd (ACPL) said that it has acquired a factory premis ...

Read more
Solvay plans sale of polyamide division – newspaper reports

BRUSSELS, BELGIUM: Solvay SA said that it is planning to sell its polyamide business and has given Goldman Sachs a mandate to find a buyer, Belgian bu ...

Read more
BASF, AMA Group partner for auto refinish paint in Australia

MELBOURNE, AUSTRALIA/HONG KONG, CHINA: BASF SE said that it has signed a ten-year partnership with leading Australia and New Zealand bodyshop network ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X