According to RTTNews, Clariant AG is planning to acquire a controlling majority in Süd-Chemie AG and signed a contract with the majority shareholders—One Equity Partners. Clariant will buy just above 95 percent of the outstanding shares. The shares of One Equity Partners will be bought at €121 per Süd-Chemie share with the total value of the transaction at €2.0 billion.
The “conservative financing" will include CHF 700 million share exchange with Süd-Chemie family shareholders, CHF 400 million rights issue, CHF 900 million debt financing and CHF 500 million cash. Clariant said after regulatory approvals are obtained, everything should be completed in the first half of 2011, and new shares are subject to approval.