Clariant completes the sale of its Masterbatches business to PolyOne for approx. USD 1.6 billion
01 July 2020 - 3:00PM
Clariant completes the sale of its Masterbatches business to
PolyOne for approx. USD 1.6 billion
- Divestment marks an important milestone for Clariant’s
transformation into a focused specialty chemicals company
- Closing satisfies condition for extraordinary distribution
of CHF 3.00 per share
- Remaining proceeds to be invested in core businesses and to
strengthen balance sheet
Muttenz, July 1, 2020– Clariant, a focused, sustainable
and innovative specialty chemical company, today completed the sale
of its entire Masterbatches business to PolyOne. The enterprise
value of the sale, which consists of separate transactions for
Clariant’s global Masterbatches business and its Masterbatches
business in India, amounts to approximately USD 1,560 million which
is equivalent to c. 12.2 times the last twelve months reported
EBITDA (ending September 2019).
“With this completed transaction, Clariant takes another
significant step towards becoming a pure-play specialty chemical
company. By focusing on its three core Business Areas Care
Chemicals, Catalysis and Natural Resource, Clariant intends to
deliver above-market growth, higher profitability and stronger cash
generation. Having successfully sold Masterbatches and Healthcare
Packaging, our target is now to progress with the divestment of our
Pigments business,” said Hariolf Kottmann, Clariant’s Executive
Chairman ad interim.
As a consequence of the completed divestment of the
Masterbatches business, as well as the anticipated divestment of
the Pigments business, Clariant will now proceed as soon as
practicable with an extraordinary cash distribution of CHF 3.00 per
share to its shareholders. Clariant’s Board of Directors has set
the ex-date to 6 July 2020, the record date to 7 July 2020, and the
payment date of the extraordinary distribution will be 8 July 2020.
As previously announced, remaining net proceeds from the intended
divestments will be used to invest in innovations and technological
applications within the core Business Areas and to strengthen
Clariant’s balance sheet.
Corporate
Media Relations |
Investor
Relations |
Jochen Dubiel Phone +41 61 469 63
63jochen.dubiel@clariant.com |
Maria
Ivek Phone +41 61 469 63 73maria.ivek@clariant.com |
Claudia
Kamensky Phone +41 61 469 63
63claudia.kamensky@clariant.com |
Alexander
Kamb Phone +41 61 469 63 73alexander.kamb@clariant.com |
Thijs
Bouwens Phone +41 61 469 63 63thijs.bouwens@clariant.com
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This media release contains certain statements that
are neither reported financial results nor other historical
information. This document also includes forward-looking
statements. Because these forward-looking statements are subject to
risks and uncertainties, actual future results may differ
materially from those expressed in or implied by the statements.
Many of these risks and uncertainties relate to factors that are
beyond Clariant’s ability to control or estimate precisely, such as
future market conditions, currency fluctuations, the behavior of
other market participants, the actions of governmental regulators
and other risk factors such as: the timing and strength of new
product offerings; pricing strategies of competitors; the Company’s
ability to continue to receive adequate products from its vendors
on acceptable terms, or at all, and to continue to obtain
sufficient financing to meet its liquidity needs; and changes in
the political, social and regulatory framework in which the Company
operates or in economic or technological trends or conditions,
including currency fluctuations, inflation and consumer confidence,
on a global, regional or national basis. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date of this document. Clariant does not
undertake any obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date of these materials. www.clariant.com
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Clariant is a focused, sustainable and innovative specialty
chemical company based in Muttenz, near Basel/Switzerland. On 31
December 2019, the company employed a total workforce of 17 223. In
the financial year 2019, Clariant recorded sales of CHF 4.399
billion for its continuing businesses. The company reports in three
business areas: Care Chemicals, Catalysis and Natural Resources.
Clariant’s corporate strategy is based on five pillars: focus on
innovation and R&D, add value with sustainability, reposition
portfolio, intensify growth, and increaseprofitability.
- Clariant completes the sale of its Masterbatches business to
PolyOne for approx. USD 1.6 billion
- Clariant schliesst Verkauf des Masterbatches-Geschäfts an
PolyOne für rund 1,6 Milliarden USD ab