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Clariant has just signed an agreement to sell its Healthcare Packaging business to a newly-formed affiliate of Arsenal Capital Partners.
Clariant has just signed an agreement to sell its Healthcare Packaging business to a newly-formed affiliate of Arsenal Capital Partners.

Clariant has just signed an agreement with respect to the sale of its Healthcare Packaging business to a newly-formed affiliate of Arsenal Capital Partners.

The total consideration of the sale amounts to approximately CHF 308 million payable at closing, which is expected in Q4 2019.

The total consideration is equivalent to 13.2 times adjusted FY2018 EBITDA. The closing of the transaction is subject to customary conditions and approvals.

Clariant’s Healthcare Packaging business offers products used to protect pharmaceutical products from moisture and oxygen. This includes customizable, high-quality drop-in products (canisters and packets), Integrated Desiccant Systems and specially designed plastic bottles containing oxygen barrier materials.

In 2018, the Healthcare Packaging business generated sales of around CHF 135 million. The business has manufacturing facilities in the USA, France, China and India and employs around 600 employees.

Temporarily suspend negotiations with SABIC

On the other hand, Clariant and SABIC have recently agreed to temporarily suspend the discussions on the intended business combination High Performance Materials (HPM), consisting of Clariant’s Additives and high value Masterbatches and parts of SABIC’s Specialties business.

Given the current market conditions, both parties have decided that temporarily suspending the negotiations is in the best interests of the respective shareholders of both companies. 

As part of the portfolio upgrade announced in September 2018, Clariant will continue with the divestment of the Pigments business and has decided to also divest the entire Masterbatches business including both, standard and high value Masterbatches. These divestments are expected to be concluded unchanged by end 2020.

The proceeds from the divestments will be used to invest in innovations and technological applications within the core Business Areas, to strengthen Clariant’s balance sheet and to return capital to shareholders.

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