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Following the announcement on October 30 that Stahl have entered into an agreement to buy Clariant’s Leather Services business unit Stahl have confirmed to ILM that the sale process is ongoing.
“We can confirm that assuming all goes through, the new company will operate under the Stahl name, the Clariant brand remains with the parent company. We also expect completion around the end of the first quarter of 2014. As we will remain as competitors until such time as a final deal is signed, it is too early to comment any further”, Mike Tomkin, Director of Sustainability, told ILM.
If the deal does go through Stahl will pay CHF 85 million (€68.7 million) for the business and Clariant will take a 23% stake in the new combined Stahl business. Stahl’s parent company, Wendel Group, would have a 70% stake with the remaining 7% of shares distributed among smaller shareholders.comments powered by Disqus