Clariant Sells The Real Estate Property “Industrial Park Fechenheim”
Date
9/17/2024 1:18:23 AM
(MENAFN- GlobeNewsWire - Nasdaq) AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR MUTTENZ, 17 SEPTEMBER 2024
Clariant, a sustainability-focused specialty chemical company, today announced that it has reached an agreement to divest its Real estate property“Industrial Park Fechenheim”, Frankfurt am Main, Germany to the Lugman Group, a Frankfurt-based single-family office specialized in real estate, for EUR 95 million in cash. The transaction is expected to close in the course of 2025.
Clariant currently expects a book gain of around CHF 70 million, booked as exceptional item in the company's EBITDA at closing. Clariant intends to use the cash proceeds to reduce debt and strengthen its balance sheet expressing the company's commitment to maintain its investment-grade credit rating.
The industrial park in the east of Frankfurt am Main covers approximately 428 000 square meters. Clariant has no operational activities in the“Industrial Park Fechenheim”.
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This media release contains certain statements that are neither reported financial results nor other historical information. This document also includes forward-looking statements. Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by the statements. Many of these risks and uncertainties relate to factors that are beyond Clariant's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of governmental regulators and other risk factors such as: the timing and strength of new product offerings; pricing strategies of competitors; the company's ability to continue to receive adequate products from its vendors on acceptable terms, or at all, and to continue to obtain sufficient financing to meet its liquidity needs; and changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions, including currency fluctuations, inflation and consumer confidence, on a global, regional or national basis. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. Clariant does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of these materials.
Clariant is a focused specialty chemical company led by the overarching purpose of 'Greater chemistry – between people and planet'. By connecting customer focus, innovation, and people the company creates solutions to foster sustainability in different industries. On 31 December 2023, Clariant totaled a staff number of 10 481 and recorded sales of CHF 4.377 billion in the fiscal year for its continuing businesses. As of January 2023, the Group conducts its business through the three Business Units Care Chemicals, Catalysts, and Adsorbents & Additives. Clariant is based in Switzerland. |
Attachment
Clariant Media Release_Clariant divestment Fechenheim site 20240917_EN
MENAFN17092024004107003653ID1108681039
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