Sandoz's risky strategy for Clariant disposal

Article Abstract:

Healthcare and chemicals company Sandoz of Switzerland will dispose of its Clariant industrial chemicals division. Sandoz will be open to a trade sale to a third party while simultaneously preparing for a worldwide share offer and some observers believe the company is adopting a risky strategy. Trade buyers could be waiting to determine the public market valuation, with independent institutions less likely to consider the value of potential synergies than trade buyers. Union Bank of Switzerland and SG Warburg are advisors to Sandoz.

Industrial Chemicals, Basic Chemical Manufacturing, Securities, Chemical industry, Sandoz Ltd.

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Trade sale replaces IPO as top disposal route

Article Abstract:

Companies making divestments are increasingly finding that trade sales offer better value than floating subsidiaries onto stock markets. Volvo of Sweden, a motor vehicle manufacturer is purchasing Clark Equipment its US partner, from VME, their construction and earthmoving equipment joint venture. Elf-Aquitaine and Williams are planning to sell their phosphates business to Potash of Canada, rather than the planned IPO.

Business enterprises, Elf Aquitaine S.A.

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Volvo chews on BCP sale

Article Abstract:

Swedish car manufacturer has received offers for its Branded Consumer Products (BCP) operations from many potential purchasers, but has not yet decided between a trade sale and a flotation. It must decide whether to sell the food and drinks business units of BCP separately or as a single unit, and must also consider the future of the tobacco and matches operations.

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