Sabic-backed Clariant may sell Masterbatches to Polyone for $1.5bn
Saudi Arabian chemicals-giant backed Swiss firm is in talks with the American specialty materials maker, Bloomberg reports
Swiss chemicals firm Clariant, backed by Saudi Arabia Basic Industries Corp (Sabic), is reportedly in talks with US specialty materials manufacturer Polyone Corp to sell its plastic additives unit, with Clariant seeking $1.5bn for its Masterbatches business, which makes colourants and optical brightners for polymers.
Bloomberg reported that discussions with Polyone are “the most advanced”, but the sale transaction has “also attracted interest from other companies as well as private equity firms”.
The report added that Polyone’s acquisition of Masterbatches would make it the “world leader in supplying colour concentrates for plastics”.
A final decision has yet to be made regarding the transaction, Bloomberg reported, adding that there was “no certainty” that talks would lead to a formal transaction.