Sabic agrees to acquire approximately 83 million shares in Clariant AG, a global specialty chemicals company, from 40 North and Corvex Management. The acquisition of this approximately 24.9% stake in Clariant AG will make Sabic the largest Clariant AG shareholder, according to the company, and represents another milestone in Sabic’s growth and diversification strategy.
Sabic currently has no plans to launch or otherwise effect a full takeover of Clariant AG. Sabic and Clariant AG have already had a successful relationship in their joint venture, Scientific Design, a process technology and catalyst development company.
The closing of the transaction is subject to completing regulatory approvals.
For more information, visit: www.sabic.com