December 19, 2019 / 6:13 AM / a month ago

Clariant sells unit for $1.6 bln, plans payout to shareholders

ZURICH, Dec 19 (Reuters) - Clariant is selling its masterbatches unit to U.S.-based PolyOne Corp for $1.6 billion, the Swiss specialty chemicals maker said on Thursday, adding it will pay a special dividend of 3 Swiss francs ($3.01) per share from the proceeds.

“This announcement is a significant milestone on our path to focusing on businesses with above-market growth, higher profitability and stronger cash generation,” Chairman Hariolf Kottmann said in a statement. “We are confident that we will execute the remaining divestment of our Pigments business in 2020 in order to build the new, more focused and stronger Clariant by 2021.” ($1 = 0.9972 Swiss francs) (Reporting by John Miller Editing by Michelle Martin)

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