Clariant, the Swiss maker of specialty chemicals, is in exclusive talks to sell its leather services business to Stahl. The deal could close in 2014. Clariant announced its intention to sell the business in Nov. 2012. Under the terms of the proposal, Clariant would receive a 23 percent stake in the enlarged supplier of treatments, dyes and coatings and a cash payment of around CHF85 million  (€68.8m-$92.9m), valuing Clariant's leather unit at about 7.5 times estimated earnings before interest taxes, depreciation and amortization (Ebitda). Wendel, the French investment group, would remain the principal shareholder of Stahl, with around 70 percent of Stahl's capital. In 2012, the Clariant leather services business generated CHF266 million (€215.4m-$290.8m) in sales and a reported Ebitda before exceptional items of CHF24 million (€19.4m-$26.2m). The business has staff in 24 countries worldwide, predominantly in Germany, India and Italy.

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