Sabic to complete purchase of 24.99 % stake in Clariant
On 10 September 2018, Clariant announced that Sabic has received the final outstanding regulatory approvals from the competition authorities for the purchase of a 24.99 % stake in Clariant.
Therefore, 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 Süd-Chemie. Sabic is a long-standing partner of Clariant in the catalyst joint venture Scientific Design and 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. The two companies are currently discussing about possible future collaborations that will generate value for the stakeholders.