Clariant agrees to sell pigments business in $950 mln deal

The logo of Swiss specialty chemicals company Clariant is seen at the company's headquarters in Pratteln, Switzerland August 9, 2017. REUTERS/Arnd Wiegmann/File Photohas agreed to sell its pigments business to Heubach Group and SK Capital Partners in a deal which values the business at up to 855 million Swiss francs , the Swiss chemicals maker said on Monday.

The deal represented an enterprise value of 805 to 855 million francs, depending on an earn-out payment based on the 2021 financial performance of the business which makes pigments and dyes used in the automotive, plastics and other industries. The sale is the final stage in the divestment and repositioning programme announced by Basel-based Clariant in July 2018, said Chief Executive Conrad Keijzer.

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