28 May 2004 – LAWFUEL – Clifford Chance advised BASF, Bayer and Hoechst on the sale of DyStar, the Frankfurt-based manufacturer of textile dyes, to global investment firm Platinum Equity. A corresponding agreement has been signed with the current owners BASF (30 percent share), Bayer (35 percent share) and Hoechst (35 percent share), a subsidiary of Aventis. According to this agreement, Platinum Equity will acquire 100 percent of the shares of DyStar. The parties agreed not to disclose further financial details. The transaction is subject to the approval of the relevant antitrust authorities.
DyStar is the world’s leading provider of dyes and services for the textile industry. The company was founded by Bayer and Hoechst in 1995 and extended to include BASF’s textile dye activities in 2000. DyStar has approximately 3,900 employees worldwide and is active in all key textile markets through its own subsidiaries. In 2003, DyStar posted sales of around Euro 800 million.
The Clifford Chance team included Thomas Gasteyer (Partner, M&A), Christof-Ulrich Goldschmidt (Associate, M&A) and Nele Gorny (Associate, M&A).