Clariant and Kilfrost announce termination of acquisition
* Both parties withdraw from transaction of Kilfrost's European de-icing business
Muttenz, June 10, 2016 - Clariant, a world leader in specialty chemicals, and Kilfrost today announced that the companies have terminated the acquisition agreement they entered into on November 19, 2015, relating to the sale and purchase of the European aircraft and rail de-/anti-icing businesses of Kilfrost.
Both companies expected the proposed merger to result in benefits to shareholders, customers and other stakeholders but have agreed to withdraw from the proposed transaction due to commercial reasons and challenges in obtaining regulatory approval in the United Kingdom.
In 2015, Clariant acquired the Kilfrost de-icing business in North America and Asia. This transaction is already closed and remains uneffected by the present decision.
Corporate Media Relations Investor Relations
Carsten Seum Anja Pomrehn
Phone +41 61 469 63 63 Phone +41 61 469 67 45 carsten.seum@clariant.com anja.pomrehn@clariant.com
Claudia Kamensky Steven Massheder
Phone +41 61 469 63 63 Phone +41 61 469 68 58 claudia.kamensky@clariant.com steven.massheder@clariant.com
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www.clariant.com
Clariant is a globally leading specialty chemicals company, based in Muttenz near Basel/Switzerland. On 31 December 2015 the company employed a total workforce of 17 213. In the financial year 2015, Clariant recorded sales of CHF 5.807 billion for its continuing businesses. The company reports in four business areas: Care Chemicals, Catalysis, Natural Resources, and Plastics & Coatings. Clariant's corporate strategy is based on five pillars: increase profitability, reposition portfolio, add value with sustainability, foster innovation and R&D, and intensify growth.
Press release english: http://hugin.info/139777/R/2019274/749624.pdf
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Source: Clariant Finance (Luxembourg) S.A. via GlobeNewswire [HUG#2019274]
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