Clariant Acquires Majority Stake in Süd-Chemie AG
28 June 2011 Clariant has initiated the squeeze-out procedure to acquire all of the remaining shares of Süd-Chemie AG from minority shareholders according to the German Public Company Act, according to a press release.
After expiry of the mandatory public offer on June 14, Clariant now owns 11 679 449 shares of Süd-Chemie AG, corresponding to 98.64% of the share capital.
The company also recently appointed Dr. Hans-Joachim Müller as a member of the Executive Committee. He will join the company on July 1, 2011.
Hans-Joachim Müller, born 1959, joins Clariant from Süd-Chemie AG, where he was a member of the managing board. He holds a PhD in chemistry from the Ludwig-Maximilian-University in Munich, Germany.
Müller will be responsible for the two business units: Catalysis & Energy and Functional Materials, according to the company.
“I am pleased that Hans-Joachim Müller has accepted the offer to join the Executive Committee of Clariant,” said Clariant’s CEO Hariolf Kottmann. “With his broad leadership experience in the chemicals industry and his deep understanding of the Süd-Chemie businesses he will guarantee for continuity and contribute to the successful execution of our profitable growth strategy.”
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