SABIC Receives Approvals to Purchase Stake in Clariant
MUTTENZ, Switzerland — SABIC has received the final outstanding regulatory approvals from competition authorities for the purchase of a 24.99% stake in Clariant. The deal, which will close in the next few days, makes SABIC Clariant's largest strategic anchor shareholder and second anchor shareholder beside the group of former shareholders of Süd-Chemie.
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 for the acquisition of the stake in Clariant in January 2018.