Saudi Arabia/Switzerland: Chemical Industry Sabic Becomes Largest Clariant Shareholder
Petrochemicals manufacturer Sabic has acquired a stake of 24.99 % in Clariant. The acquisition of these stakes, which were previously held by White Tale and 40 North, makes the Saudi company the largest Clariant shareholder.
Muttenz/Switzerland — Clariant was informed of Sabic’s intention to acquire the shares prior to the transaction. The company is one of the major global chemical manufacturer, with a significant specialty chemicals business and a partner of the Swiss-base company in the Catalyst joint venture Scientific Design.
The speciality chemicals producer announced that it intends to engage with the buyer over the coming weeks in order to discuss the new situation and explore possible ways to create value.