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Investor Relations
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FinancialNews
12-09-18
Saudi Arabia's Sabic to purchase 25 percent stake in Clariant
(MENAFN) Saudi Basic Industries Corp (Sabic) was confirmed to be buying 24.99 percent of shares in Switzerland's Clariant.
Clariant announced "an unconditional closing of the purchase will take place in the next days which makes Sabic Clariant's largest strategic anchor shareholder, and second anchor shareholder beside the group of former shareholders of Sud-Chemie."
It comes as the Saudi diversified chemicals giant secured a deal to purchase the stake in Clariant in January this year.
Clariant's CEO Hariolf Kottmann stated "with Sabic receiving all the regulatory approvals and the transaction set to be completed, we look forward to further developing the strategic relationship between both companies in order to generate value for all stakeholders."
MENAFN1209201800450000ID1097420017
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