Wendel-backed Stahl to take over Clariant subsidiary

The sale, which would entail Clariant receiving a 23% stake in Stahl as well as a €70m cash payment, values the subsidiary at approximately 7x EBITDA.

Wendel will remain the majority shareholder of Stahl, holding a 70% stake in the Dutch business. In 2009, Stahl underwent a restructuring with Wendel injecting another €60m to increase its interest from 48% to 92%.

Wendel acquired Stahl in 2006 via the Oranje-Nassau Groep holding, alongside Carlyle Group. Prior to this, Investcorp had bought the firm in 2002 in a deal valued at €375m.

Clariant is curently undergoing a portfolio restructuring. The company has so far divested its Textile Chemicals and Paper Specialties & Emulsions subsidiaries, as well as the Detergents & Intermediates business unit.

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