Deal Street

July 08, 2020

PolyOne Polymers acquires stake in Clariant with the assistance of AZB & Partners


[ by Legal Era News Network ]

Clariant

According to the BSE disclosure document, the Clariant concluded the sale of its Masterbatch business to PolyOne Polymers India Private Limited (PolyOne), on a going concern basis by way of slump sale by which Clariant received the consideration of Rs. 4.21Billion (USD 56 Million). As on July 1, 2020, the Masterbatch Business stands transferred to PolyOne Polymers India Private Limited.

PolyOne is a leading global provider of specialized polymer materials, services and sustainable solutions. PolyOne also announced that it has changed its name to Avient.

“We proudly welcome our newest associates and valued customers from Clariant Masterbatch.  They are joining us on Day 1 of this new era for our company, which as of today will be named Avient,” said Robert M. Patterson, Chairman, President and Chief Executive Officer, Avient.

AZB & Partners advised PolyOne as to India law.

The AZB & Partners team comprised of Partners – Sai Krishna Bharathan, Vivek Bajaj, Aditya Singh Chandel and Akansha Aggarwal and Senior Associate – Vydyanathan L.



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