Monday 10, September 2018 by Kudakwashe

Saudi's SABIC to acquire nearly 25 per cent of Clariant

 

Delays in approval from authorities in Mexico and Brazil had forced Clariant to push back a strategic update on its tie-up with Saudi Basic Industries Corp (SABIC).

SABIC has won approval to complete its acquisition of a nearly 25 per cent stake of Clariant, clearing the way for the two companies to intensify their cooperation, reported Reuters.

Saudi speciality chemicals producer bought its nearly quarter stake from activist investors who had previously abandoned a planned merger with US-based Huntsman Corp.

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