Clearwater acted as sole financial adviser to Degussa AG on selling, through an asset deal, its bleaching and water chemicals persulphate activities to a subsidiary of the Italian Unionchimica Industriale SpA, RheinPerChemie GmbH.
Degussa AG produces catalysts for the process of polymerization of chemicals (plastic) at Europe's second largest persulphate plant in Rheinfelden, Germany.