Clariant To Divest Pigments Business To Heubach-led Consortium

Clariant(CLZNY.PK,CRN.L,CLZNF.PK) said that it agreed to divest its Pigments business to a consortium of Heubach Group and SK Capital Partners at an Enterprise Value of 805 million Swiss francs to 855 million francs on a cash and debt free basis, depending on an earn-out payment of 50 million francs contingent on the 2021 financial performance of Clariant's Pigments business.

At the time of closing of the transaction, Clariant will reinvest to become a 20% shareholder alongside Heubach and SK Capital in the ultimate holding company. The combined business will be a global pigments player with about 3000 employees generating more than EUR 900 million in annual sales and strong service and production capabilities across the globe.

The transaction is expected to close in the first half of 2022.

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