Sep 23 2004
Syngenta announced today that it is selling its 75 per cent stake in the Swiss chemical company SF-Chem to the Zurich-based private equity firm Capvis. The remaining 25 per cent stake held by Clariant is also being sold to Capvis. The total consideration for the transaction is CHF81 million ($64 million), of which Syngenta’s share is CHF59 million ($46 million), plus an additional performance-related component.
SF-Chem is a manufacturer of chemical intermediates for the pharmaceutical, agrochemical and speciality chemicals industries. It is headquartered in Pratteln near Basel and employs around 360 people. Closing of the transaction is expected at the end of this month.
“It has become increasingly clear that our investment in SF-Chem is no longer core“, said Christoph Mäder, responsible for Syngenta in Switzerland. “As an independent company, SF-Chem will be better able to develop its business and secure its long-term success. We are particularly grateful for the dedication shown by SF-Chem employees over the years and are confident that this dedication will be appreciated by the new owners.”
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