26 April 2011 14:13 [Source: ICIS news]
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LONDON (ICIS)--Clariant has completed its purchase of 96.15% of the shares in Germany-based specialty and catalysts firm Sud-Chemie from One Equity Partners and family shareholders, according to statements by both firms on Tuesday.
Clariant will make a public offer to acquire the outstanding shares from minority shareholders, the statement said.
“Following the successful completion of our restructuring in 2010, the acquisition of Sud-Chemie accelerates our strategy of profitable growth,” said Hariolf Kottmann, CEO of Clariant.
“Together we will now start the integration process to successfully integrate Sud-Chemie into Clariant,” Kottmann added.
Kottmann said that by acquiring leading positions in the fields of process catalysts and adsorbent agents, the company would be expanding its portfolio with two fast-growing business units.
“As of 21 April 2011, Sud-Chemie has become a member of the Clariant Group,” said a separate statement by Sud-Chemie.
Clariant agreed to acquire a majority stake in Sud-Chemie on 16 February.
Clariant said the share exchange was worth Swfr700m (€538m). As part of the acquisition financing, Clariant said it would raise Swfr400m in a rights issue, secure Swfr900m in debt financing and pay Swfr500m in cash.
Additional reporting by Franco Capaldo
($1 = €0.69, €1 = Swfr1.28)
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