Clariant Divests Industrial Park Fechenheim for €95 Million
Clariant, a sustainability-focused specialty chemical company, has sold its real estate property 'Industrial Park Fechenheim' to Lugman Group for €95 million.
ClariantIndustrial Park FechenheimLugman GroupReal EstateSustainabilityReal Estate NewsSep 17, 2024
The transaction is expected to be completed by 2025. Clariant anticipates a book gain of approximately CHF 70 million, which will be recorded as an exceptional item in the company's EBITDA at the time of closing. The company plans to utilize the cash proceeds to reduce its debt and strengthen its balance sheet, reaffirming its commitment to maintaining an investment-grade credit rating.
Located in the east of Frankfurt am Main, the industrial park spans around 428,000 square meters. Notably, Clariant does not have any operational activities in the 'Industrial Park Fechenheim'.
This strategic move by Clariant is a significant step towards optimizing its asset portfolio and enhancing its financial performance. By divesting non-core assets, the company can focus on its core business operations and drive sustainable growth.
The Lugman Group, a prominent player in the real estate sector, has acquired the property with plans to leverage its expertise to unlock its full potential. This acquisition is expected to further solidify the group's presence in the Frankfurt real estate market.
Information
Clariant is a global specialty chemical company that operates in the fields of care chemicals, catalysis, natural resources, and plastics & coatings. The company is committed to sustainability and has implemented various initiatives to reduce its environmental footprint.
Clariant is a leading specialty chemical company that leverages its expertise to deliver innovative solutions to various industries. With a strong focus on sustainability, the company strives to make a positive impact on the environment and society.
Frequently Asked Questions
What is the value of the transaction?
The transaction is valued at €95 million in cash.
Who is the buyer of the Industrial Park Fechenheim?
The buyer is Lugman Group, a Frankfurt-based single-family office specializing in real estate.
What is the expected book gain for Clariant?
Clariant anticipates a book gain of approximately CHF 70 million.
What are Clariant's plans for the cash proceeds?
The company plans to use the cash proceeds to reduce debt and strengthen its balance sheet.
Where is the Industrial Park Fechenheim located?
The industrial park is located in the east of Frankfurt am Main, Germany.
Related News Articles
Godrej Properties Sees Staggering Growth in Q1 FY25: Profit Jumps to Rs 520 Crore
Godrej Properties has reported a more than four-fold jump in consolidated net profit to Rs 520.05 crore in Q1 FY25, with sales bookings increasing nearly four times to Rs 8,637 crore.
Bombay High Court Stays REAT Order on Rs. 38.18 Cr Deposit in Real Estate Dispute
In a significant development, Justice Gauri Godse of the Bombay High Court has stayed an order by the Real Estate Appellate Tribunal (REAT) that directed a developer to deposit Rs. 38.18 crore in a real estate dispute.
Maharashtra Government Considers 10% Hike in Ready Reckoner Rates; Real Estate Sector Expresses Concerns
The Maharashtra government is considering a 10% increase in the Ready Reckoner (RR) rates, the benchmark for property valuation, potentially taking effect from April 2024. The move aims to boost state revenue but has raised concerns among real estate stak
NCLT Approves Resolution Plan for Universal Buildwell's Stalled Projects
The National Company Law Tribunal (NCLT) has approved a resolution plan to revive the stalled projects of Universal Buildwell, a leading real estate developer. This move is expected to bring new hope to homebuyers and investors who have been waiting for y
Branded Residences: The Future of Luxury Real Estate in India
The Indian real estate market is witnessing a significant shift towards branded residences, offering a new dimension to luxury living and investment opportunities.
Pune ACB Arrests Baramati Town Planner for Bribery Allegations
The Pune unit of the Maharashtra Anti Corruption Bureau (ACB) has arrested a town planner from Baramati for allegedly accepting a bribe of Rs 1 lakh from a real estate developer. The developer filed a complaint against the town planner, leading to the arr