One Equity Partners Exits Sud-Chemie

US-based buyout shop One Equity Partners LLC is exiting its 50.41% stake in German Sud-Chemie AG, selling the specialty chemical maker to Clariant AG, a Swiss chemicals company. The deal is valued at roughly $2.6 billion.

One Equity Partners LLC, a US-based private equity firm, has agreed to sell its 50.41% in Sud-Chemie AG, a Germany-based manufacturer of specialty chemicals, to Clariant AG, a Switzerland specialty chemicals company.

The divestment is a part of Clariant’s agreement to acquire more than 95% stake in Sud-Chemie.

According to the signed agreement, OEP will sell its majority interest (50.41%) for EUR121 per share while the traditional shareholders, some of whose families have invested and participated in Sud-Chemie as entrepreneurs, will receive 8.84 shares in Clariant for one share in Sud-Chemie. The transaction is valued at approximately EUR2,000 million.

Rumor (January 20, 2011):

According to Reuters, One Equity Partners LLC is planning to sell its 50.41% majority stake in Sud-Chemie.

Clariant , Belgian materials technology group Umicore SA, Japanese investment holding company Mitsubishi Chemical Holdings Corporation, and US-based diversified technology and manufacturing company Honeywell International are all said to be in race for the stake.