As part of its ongoing strategy to concentrate on detergents, glues and cosmetics business, Dusseldorf-based Henkel has sold its Cognis specialty chemicals arm for Eur2.6 billion ($2.4 billion). The business has been sold to Goldman Sachs and Schroder Ventures, the parent organisations to TFL (Together for Leather) who have been granted the option of pulling out of the deal within the first two months. Henkel has said the clause was built in following the terror attack in the U.S. and the "related uncertainties vis-à-vis financial markets."

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