JPMorgan Chase’s private equity arm, One Equity Partners, will sell specialty chemicals company, Sued-Chemie, The Wall Street Journal reports. The company will be sold to the Swiss maker of plastic additives, Clariant, for about €2 billion in cash and stock.
Clariant will fund the acquisition by issuing new shares worth €307 million for €121 a share and the remaining amount will be financed through debt, cash and swapped stock. Clariant will acquire a 50.4% stake from One Equity Partners and shares from family investors to take its total stake in Sued-Chemie to above 95%, adds Bloomberg.
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