SABIC acquires 24.9% stake in Clariant

25/01/2018 Argaam

 

Saudi Basic Industries Corporation (SABIC) has acquired 24.99 percent stake into Clariant AG, a leading international specialty chemicals producer.

 

The shareholding was originally owned by 40North and Corvex Management, SABIC said in a stock market filing.

 

The deal will be financed by bank loans, and awaits regulatory approval for completion.

 

SABIC and Clariant share another joint venture, Scientific Design, a process technology and catalyst development company.

 

Clariant AG manufactures specialty chemicals, and operates via four segments: care chemicals, catalysis, natural resources, and plastics and coatings.

 

It owns 80 plants at a combined production capacity of 4 million metric tons per annum.

 

 

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