Latest: Swiss specialty chemicals company Clariant said on Aug. 31 that it had reached a definitive agreement to divest its quaternary ammonium salts business to Singapore-based Global Amines in a deal valued at $113 million .

Global Amines is a 50:50 joint venture owned by Clariant and Wilmar International.

The divestment is another step in the transformation of Clariant’s portfolio to focus its business on specialty chemicals.

Clariant said the transfer is a sale of assets in Germany, Indonesia and Brazil, and will provide fee agreements if needed. The transaction is expected to close in the first half of 2023.