September 17, 2024 (press release) –
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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