Clariant AG (Muttenz, Switzerland; www.clariant.com) is planning to acquire the controlling majority in Süd-Chemie AG. As part of the planned transaction, still subject to clearance by competent merger control authorities, Clariant has come to agreements with the majority shareholder One Equity Partners (50.4%) and the family shareholders (approximately 46%). As a result, Clariant will acquire slightly above 95% of the outstanding shares. The total value of the transaction is EUR 2.0 billion (CHF 2.5 billion). After all necessary regulatory approvals, including anti-trust, are obtained, Clariant expects the transaction can be completed in the first half of 2011.
With around 6,500 employees in 40 countries, Süd-Chemie operates two stable and profitably growing business units that hold a global leading position in the areas of process catalysts and adsorbents, says Clariant. Furthermore, they say, Süd-Chemie has a strong Research & Development pipeline for new business areas with substantial growth potential. Those include innovative materials for lithium-ion batteries and biotechnology, such as technology for the production of second generation bioethanol.
"We are convinced that Süd-Chemie is the right strategic fit for Clariant. It complements our portfolio with high growth businesses, less cyclicality and it provides Clariant access to new attractive market segments. Süd-Chemie will further drive our profitable growth forward in the coming years”, said Clariant AG CEO Hariolf Kottmann. “The planned acquisition also offers clear advantages for both companies as our investment will strengthen our research in future markets such as new materials and biotechnology in a focused way”, said Kottmann.
In line with Clariant’s financing policy, the transaction will be conservatively financed. After having successfully completed its restructuring in 2010, this transaction supports Clariant’s new strategic direction towards profitable growth.