Clariant Chemicals India Limited updates on sale of pigments business by Parent

Clariant AG ("Clariant"), has announced that it has 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 3000 employees generating approximately EUR 1 billion in annual sales with strong service and production capabilities across the globe. Consequent to this deal, our ultimate global holding Company will be the newly combined Heubach Group.

Shares of Clariant Chemicals (India) Limited was last trading in BSE at Rs. 492.40 as compared to the previous close of Rs. 493.45. The total number of shares traded during the day was 5170 in over 689 trades.

The stock hit an intraday high of Rs. 499.00 and intraday low of 488.00. The net turnover during the day was Rs. 2554011.00.

Source : Equity Bulls

Keywords

ClariantChemicalsIndia INE492A01029 CLNINDIA SpecialtyChemicals PigmentsBusiness HeubachGroup