Clariant deal could inspire industry consolidation - leatherbiz: Leadi Leatherbiz

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Clariant deal could inspire industry consolidation

04/02/2013
A report from Bloomberg has suggested Clariant’s decision to sell its leather chemicals business could spark more tie-ups in the $4 billion industry.

Creditors of Germany’s TFL are holding out for an offer close to $270 million after receiving lower bids last year, people familiar with the deal were reported as saying. It was suggesting they were emboldened by the Clariant deal.

Clariant tried to sell its unit in 2008, and Lanxess and BASF previously discussed combining their leather-chemicals assets.

“Clariant’s disposal could be a source of momentum,” said Bernd Schneider, a chemicals adviser at investment bank Lincoln International LLC. “In leather chemicals, someone has to make the first move. If there is movement with Clariant and maybe TFL, BASF could also hope for a sale.”


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