Clariant is a global leader in specialty chemicals. The company announced that Saudi Basic Industries Corporation (SABIC) has obtained final approval from the competition regulator to acquire 24.99% of Clariant. Therefore, the acquisition will be completed unconditionally in the next few days. This acquisition makes Saudi Basic Industries Corporation the largest strategic anchor shareholder of Clariant and the second largest strategic anchor shareholder of Sud-Chemie Group besides its former shareholders. .
Saudi Basic Industries Corporation is the world's third largest diversified chemical company and a long-term partner of Clariant in the scientific design of catalyst joint ventures. The company reached an acquisition agreement in January 2018 to acquire Clariant shares.
Clariant CEO Hariolf Kottmann said: "Since SABIC has received approval from all regulators and the transaction is nearing completion, we hope to further develop the strategic relationship between the two companies and create value for all stakeholders."
Clariant and Saudi Basic Industries are discussing possible future collaborations that will create value for the stakeholders of both companies. Any results of these discussions will be presented in due course.