Clariant could make $352 million from sale of leathe - leatherbiz: Lea Leatherbiz

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Clariant could make $352 million from sale of leather and detergent units

14/10/2013
Chemicals group Clariant is set to generate about $352 million from the sale of its leather chemicals and detergents units, according to a survey of analysts by Bloomberg.

Leather-chemical and detergent and intermediate ingredient units will probably fetch more than six times earnings before interest, taxes, amortisation and depreciation, according to the average estimate of seven analysts surveyed. Clariant is looking to find a buyer for the units by year-end.

The sale of leather, detergents and intermediates units may be affected by concerns over business performance, said Patrick Rafaisz, an analyst with Bank Vontobel in Zurich. “The Ebitda expectations for the second wave of asset sales may be too high, especially given the first round of asset sales which disappointed.”






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