Ciba has agreed to sell its Textile Effects unit for 332 mln sfr in cash and debt to Huntsman Corp. The deal will close in the third quarter, Ciba Specialty Chemicals said. The Swiss group said it will incur an after tax write down charge of around 250 mln sfr, which will be booked at the closing of the transaction in 2006. Additional net after-tax costs relating to the deal of 100-120
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| mln sfr are expected primarily in 2006, including a contribution of up to 40 mln to Huntsman for costs of adapting the business after closing.
Ciba in November 2005 said that it was reviewing its options with regard to Textile Effects, and on Jan 31 said it would make a decision in the next few months. Its 2006 sales growth guidance is unaffected, but it will give new guidance on profitability and cash flow when it reports Q1 results in April. 
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