Clariant, a world leader in specialty chemicals, has announced the closing of the sale of its Leather Services business to Stahl Holdings B.V. as of 30 April 2014. Stahl, majority owned by Wendel Group, is a Dutch company providing high-quality chemicals, dyes and coatings for leather and other applications. The combination of both businesses has created a global leader in leather chemicals with a higher growth profile than the standalone entities and with significant synergy potential.
As announced on 30 October 2013, Clariant has received a cash consideration and a 23 per cent stake in Stahl for the sale of its Leather Services´ business. The minority shareholding will allow Clariant to participate in the upside potential of the enlarged Stahl. Wendel remains the principal shareholder of Stahl with approximately 70 per cent of Stahl´s capital.