Stahl Holdings buys Clariants Leather services business approximately CHF 85 million

Clariant to sell leather services business to Stahl

11:19 AM, 30th October 2013
Clariant sells Leather services business to Stahl Holdings BV
Hariolf Kottmann, CEO, Clariant.

MUTTENZ, SWITZERLAND: Clariant, a world leader in specialty chemicals, plans to sell its Leather Services business to Stahl Holdings BV, 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 would create a global leader in leather chemicals with a higher growth profile than the stand-alone entities and with significant synergy potential.

In the proposed transaction, Clariant would receive 23 per cent of the shares of Stahl and a cash payment of approximately CHF 85 million ($94 million) in exchange for the sale of its business to Stahl. Subject to the necessary regulatory approvals and employees consultations, the transaction could be finalized in 2014. Wendel would remain the principal shareholder of Stahl with approximately 70 per cent of Stahl’s capital.

“Through this planned transaction, Clariant will achieve its goal to actively participate in the consolidation of the leather chemicals industry by creating the global leader. For Clariant, the proposed transaction marks the last big step in repositioning the portfolio. The group is now in a better position to exploit its strong market presence and intensify growth by focusing on customers and innovation,” said Hariolf Kottmann, CEO, Clariant.

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