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Clariant to sell leather services business to Stahl
11:24 AM MDT | October 30, 2013 | Deepti Ramesh
Clariant says that it plans to sell its leather services business to Stahl (Waalwijk, Netherlands). Stahl, which is majority-owned by investment company Wendel Group (Paris), provides chemicals, dyes and coatings for leather and other applications. Clariant, under the proposed transaction, would receive 23% of the shares of Stahl and a cash payment of about 85 million Swiss francs ($94 million) in the sale, valuing Clariant’s leather services business at about 7.5 times estimated Ebitda, Clariant says. The leather services business of Clariant generated...
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