MS takes position on Sfr400m Clariant rights issue

Clariant, the Swiss chemicals firm, has appointed Morgan Stanley to underwrite a Sfr400m rights issue in support of the Sfr2.5bn acquisition of privately-held Süd-Chemie that it announced on Wednesday. The US house acted as adviser to Clariant on the deal but whether a syndicate has been, or will be, formed remains to be confirmed.