One Equity Partners exits Süd-Chemie AG
Germany-based private equity firm One Equity Partners has sold its 50.4% stake in Süd-Chemie AG to Swiss specialty chemicals business Clariant for an estimated amount of €1m.
The buyer will take over a total of 95% of Süd-Chemie for an amount which is thought to be around €2m. One Equity Partners will sell its shares for €121 per share and the company's family shareholders, who are holding about 46%, will swap their shares into Clariant-shares.
In 2009 the company reported a loss of CHF194m, but brought in a profit of CHF191m in 2010.
Süd-Chemie AG emerged in 1996 from the chemical division of Sandoz and was later expanded with parts of the chemical business of Hoechst. The company is based in Munich and has two divisions, Adsorbents and Catalysts. Currently the chemical supplier employs around 6,500 people and has total sales of almost €1.2bn.
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