Chemical
Clariant completes divestment of 50% stake in Scientific Design
Net cash inflow amounts to $139.4 million.
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By ICN Bureau | April 15, 2022
Clariant announced that it has completed the divestment of its 50% stake in the joint venture which owns Scientific Design Company Inc. The transaction was announced on 2 February, 2022.
Clariant’s 50% share in Scientific Design was valued at $130 million. Together with a profit-sharing agreement beginning on 1 January, 2021 until the closing of the transaction, Clariant’s net cash inflow, before tax and transaction cost amounts to $139.4 million.
Clariant intends to use the proceeds of the divestment to invest into growth projects within the core Business Areas, execute the strategy along sustainability and innovation, fund the performance improvement programs as well as strengthen Clariant’s balance sheet to reach and defend a solid investment grade rating.
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