Clariant sells masterbatches business to Poly One
The specialty chemical company Clariant is selling its entire masterbatches business to Poly One for around EUR 1.4 billion.
The deal with Poly One comprises two separate transactions. The global Masterbatches business is sold in a deal valued at EUR 1.34 billion, representing c. 12.1 times the last twelve months reported EBITDA (ending September 2019).
Separately, the sale of Clariant’s Masterbatches business in India has been approved by Clariant Chemicals (India) Limited’s Board of Directors and is valued at INR 4,260 million or approx. EUR 54 million, representing c. 17.3 times the last twelve months reported EBITDA (ending September 2019). Clariant Chemicals (India) Limited is listed on the stock exchanges in India with Clariant AG holding a 51% controlling stake. The closing of both transactions is subject to customary closing conditions and regulatory approvals.
“Concentrate on our core Business Areas”
“This announcement is a significant milestone on our path to focussing on businesses with above-market growth, higher profitability and stronger cash generation. After the successful divestment of Healthcare Packaging in October 2019 the agreement to sell Masterbatches is an important step in delivering on our strategy defined in 2015 to concentrate on our three core Business Areas Care Chemicals, Catalysis and Natural Resources”, said Hariolf Kottmann, Executive Chairman of Clariant.
