Clariant plans acquisition of Süd-Chemie AG
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Clariant AG /
Clariant plans acquisition of Süd-Chemie AG
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* Accelerating profitable growth
* Addition of future technologies with high growth potential
* Enterprise value of EUR 2.0 billion (CHF 2.5 billion)
* Family shareholders convert Süd-Chemie shares into Clariant shares
Muttenz, February 16, 2011 - Clariant AG is planning the acquisition of a
controlling majority in Süd-Chemie AG and has thereto signed a contract with the
majority shareholders.
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 shares of One Equity Partners will be bought at a
price of EUR 121 per Süd-Chemie share. The vast majority of the Süd-Chemie
family shareholders will swap their shares into Clariant shares at a ratio of
1:8.84. The total value of the transaction is EUR 2.0 billion (CHF 2.5 billion).
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. Furthermore, 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, e.g. technology for the production of second generation
bioethanol. Süd-Chemie has demonstrated high levels of innovation coupled with
success in the commercialization of its products.
With turnover of EUR 1,225 million[1] and EBITDA of EUR 191 million(1), Süd-
Chemie generated an EBITDA margin in 2010 of 15.6%(1).
"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. The envisaged and approximate financing structure includes CHF 700
million share exchange with Süd-Chemie family shareholders, CHF 400 million
rights issue, CHF 900 million debt financing and CHF 500 million cash. The issue
of new shares is subject to approval at the Clariant general meeting on March
31, 2011. Once all necessary regulatory approvals, including anti-trust, are
obtained, Clariant is confident that the transaction can be completed in the
first half of 2011. No later than after the Closing of the share purchase
agreements, Clariant will initiate a public takeover procedure for the remaining
free float.
After having successfully completed its restructuring in 2010, this transaction
supports Clariant's new strategic direction towards profitable growth. In
addition to continued improvement in the profitability of the existing portfolio
and a focus on innovation and growth in emerging markets, the portfolio will be
strengthened by further investments in future markets and technologies.
Please find below the timetable for today's media and analyst conferences:
+----------------------+---------------------+----------------------------+
|Wire Call |7:15 am - 7:45 am CET| |
|Dial-in | |+41 (0)91 610 56 00 (Europe)|
| | |+44 (0)203 059 58 62 (UK) |
| | |+1 (1)866 291 41 66 (USA) |
| | | |
|Digital Playback | |41 (0) 91 612 4330 (Europe) |
|available for 24 hours| |+44 (0) 207 108 6233 (UK) |
| | |+1 (1)866 416 2558 (USA) |
| | | |
| | |Code: 14368# |
+----------------------+---------------------+----------------------------+
+----------------------+---------------------+----------------------------+
|Analyst Call |8:00 am - 8:45 am CET| |
|Dial-in | |+41 (0)91 610 74 15 (Europe)|
| | |+44 (0)207 107 06 13 (UK) |
| | |+1 (1)866 291 41 66 (USA) |
| | | |
|Digital Playback | |+41 (0) 91 612 4330 (Europe)|
|available for 24 hours| |+44 (0) 207 108 6233 (UK) |
| | |+1 (1)866 416 2558 (USA) |
| | | |
| | |Code: 17263# |
+----------------------+---------------------+----------------------------+
+----------------------------------+------------------+------------------------+
|Press conference |9:00 am - 10:00 am| |
| |CET | |
|Dial-in | |+41 (0)91 610 56 00 |
|Listen-only mode | |(Europe) |
| | |+44 (0)203 059 58 62 |
|Questions may be raised via the | |(UK) |
|webcast or via the e-mail address | |+1 (1)866 291 41 66 |
|questions(at)clariant.com | |(USA) |
| | | |
| | |Live Videowebcast |
| | |available |
| | |http://gaia.world- |
| | |television.com/clariant/|
| | |20110216/mc/extern/trunc|
| | | |
+----------------------------------+------------------+------------------------+
+------------------+-------------------------+----------------------------+
|Analyst Meeting |SIX Swiss Exchange |Live Videowebcast and |
| |ConventionPoint in Zurich|Replay available for 30 days|
| |at 1:30 pm - 3:00 pm CET |www.clariant.com |
| | | |
+------------------+-------------------------+----------------------------+
|Dial-in | | |
|Listen-only mode | | |
| | | |
|Europe 1:30 pm CET|UK 12:30 pm BST |USA 7:30 am US EST |
| | |4:30 am US PST |
| | | |
|Dial-In number: |Dial-In number: |Dial-In number: |
|+41 91 610 56 00 |+44 203 059 58 62 |+1 866 291 41 66 |
| | | |
+------------------+-------------------------+----------------------------+
--- End of Message ---
Clariant AG
Rothausstrasse 61 Muttenz 1 Switzerland
ISIN: CH0012142631;
Press Release english:
http://hugin.info/100166/R/1489458/424870.pdf
Press Release deutsch:
http://hugin.info/100166/R/1489458/424871.pdf
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Source: Clariant AG via Thomson Reuters ONE
[HUG#1489458]
Unternehmensinformation / Kurzprofil:
Datum: 16.02.2011 - 07:00 Uhr
Sprache: Deutsch
News-ID 51522
Anzahl Zeichen: 9845
contact information:
Town:
Muttenz 1
Kategorie:
Business News
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