Clariant agrees to sell pigments business in $950 million deal

ZURICH (Reuters) -Clariant has agreed to sell its pigments business to Heubach Group and SK Capital Partners in a deal which values the business at up to 855 million Swiss francs ($951.27 million), the Swiss chemicals maker said on Monday.

Clariant said it would reinvest to become a 20% shareholder in the new combined business, which employs 3,000 people and has annual sales of around 900 million euros ($1.09 billion).

The deal represented an enterprise value of 805 to 855 million francs, depending on an earn-out payment based on the 2021 financial performance of the business which makes pigments and