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Clariant, a world leader in specialty chemicals, today announced the closing of the sale of its Leather Services business to Stahl Holdings B.V. as of April 30, 2014.
Stahl, majority owned by Wendel Group, is a Dutch company providing high-quality chemicals, dyes and coatings for leather and other applications. The combination of both businesses has created a global leader in leather chemicals with a higher growth profile than the standalone entities and with significant synergy potential.
As announced on October 30, 2013, Clariant has received a cash consideration and a 23% stake in Stahl for the sale of its Leather Services business. The minority shareholding will allow Clariant to participate in the upside potential of the enlarged Stahl. Wendel remains the principal shareholder of Stahl with approximately 70% of Stahl’s capital.
The closing of the Leather Services transaction marks the last major step in the repositioning of Clariant’s portfolio. The company has already divested the Business Units Textile Chemicals, Paper Specialties and the Business Line Emulsions on September 30, 2013, as well as the Detergents & Intermediates business on January 6, 2014.