Clariant India sells leather services business to Stahl

Clariant Chemicals (India) Ltd has informed BSE that the company has executed the business transfer agreement and transferred the business of leather services as a going concern on slump sale basis to Stahl India Private Limited for a lumpsum consideration of Rs 156 crores effective from May 01, 2014.
 
This follows that Swiss chemicals company’s global announced about closing of the sale of its Leather Services business to Stahl Holdings B.V. as of April 30, 2014 on May 1, 2014. Stahl, majority owned by Wendel Group, is a Dutch company providing high-quality chemicals, dyes and coatings for leather and other applications.
 
As announced on October 30, 2013, Clariant has received a cash consideration and a 23% stake in Stahl for the sale of its Leather Services business. Globally, the closing of the Leather Services transaction marks the last major step in the repositioning of Clariant’s portfolio. The company has already divested the Business Units Textile Chemicals, Paper Specialties and the Business Line Emulsions on September 30, 2013, as well as the Detergents & Intermediates business on January 6, 2014.