SK Capital Partners V-A, L.P. and SK Capital Partners V-B, L.P. managed by SK Capital Partners and members of the Heubach Family made an open offer to acquire 26% stake in Clariant Chemicals Limited from the public shareholders for INR 3 billion.
June 13, 2021
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SK Capital Partners V-A, L.P. and SK Capital Partners V-B, L.P. managed by SK Capital Partners and members of the Heubach Family made an open offer to acquire 26% stake in Clariant Chemicals (India) Limited (BSE:506390) from the public shareholders for INR 2.8 billion on June 14, 2021. As reported, will acquire up to 6 million equity shares in Clariant Chemicals (India) Limited at an offer price of INR 466.84 per share to be paid in cash. Offeror increased an offer price to INR 493.84 per share, consisting of INR 466.84 per Equity Share plus interest of INR 26.99 per Equity Share. Sources of funds for the offer is expected to be a combination of existing liquidity, debt and equity. The completion of the offer is subject to receipt of statutory and regulatory approvals, if any, that may be required. The offer is not conditional upon any minimum level of acceptance. Board of Directors of Clariant Chemicals (India) Limited formed the committee of independent directors to publish a reasoned recommendation for the Offer. The IDC is of opinion that the open offer
price to the public shareholders of the Target Company is in compliance with the Regulations and to that extent is fair and reasonable. The recommendations were unanimously approved by the members of IDC.
Offer will open on February 24, 2022 and will close on March 10, 2022. As per revised schedule, Offer will open on February 16, 2022 and will close on March 2, 2022. Sameer Purohit, Mitesh Shah, Gaurav Mittal and Allwyn Cardoza of ICICI Securities Limited (NSEI:ISEC) acted as financial advisors to SK Capital Partners. Sumeet Deshpande of Link Intime India Pvt. Ltd. acted as registrar to SK Capital Partners. RBSA Advisory Pvt. Ltd. acted as financial advisor to Clariant Chemicals (India) Limited.
Heubach Colorants India Limited is an India-based company. The Company manufactures and sells pigments, preparations, and dyes for use in the coatings, plastic, printing, non-impact printing (NIP), and special applications (home and personal care, agriculture, stationery, and fibers) sectors. Its segments include Plastics and Coating and Specialty Chemicals. The Plastics and Coating segment provides organic pigments, pigment preparations, additives and masterbatches, which is used in the automotive industry, for industrial and architectural coatings, for the plastics industry, to color home and fabric care products, and various other applications, including seed coloration, traditional, and digital printing. The Specialty Chemicals includes dyestuff, synthetic resins, functional effects and coating, auxiliaries, and chemicals. Its products have applications in the textile, paper, emulsion, and leather industries.
SK Capital Partners V-A, L.P. and SK Capital Partners V-B, L.P. managed by SK Capital Partners and members of the Heubach Family made an open offer to acquire 26% stake in Clariant Chemicals Limited from the public shareholders for INR 3 billion.
HEUBACH COLORANTS INDIA LIMITED 
