SABIC to Complete Purchase of Stake in Clariant
September 11, 2018
Clariant has announced that SABIC has received the final outstanding regulatory approvals from the competition authorities for the purchase of a 24.99% stake in Clariant. Upon purchasing, SABIC will become Clariant’s largest strategic anchor shareholder, and second anchor shareholder beside the group of former shareholders of Süd-Chemie, the company reported.
SABIC, the world’s third largest diversified chemical company and a long-standing partner of Clariant in the Catalyst joint venture Scientific Design, entered into a purchase agreement regarding the acquisition of the stake in Clariant in January 2018.
“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,” said Hariolf Kottmann, CEO of Clariant.
According to the companies, Clariant and SABIC are also discussing possible future collaborations that will generate value for the stakeholders of both companies.