Saudi Arabian group becomes Clariant’s biggest s - sportstextiles: Lea SportsTextiles

News

Saudi Arabian group becomes Clariant’s biggest shareholder

31/01/2018
Chemicals group SABIC has confirmed its acquisition of a stake of just under 25% in textile chemicals manufacturer Clariant. The deal makes Saudi Arabia-based SABIC the largest shareholder in Clariant.

SABIC described Clariant’s activity as complementary to its own and said its stake in the Swiss firm will open up for it “new growth opportunities in specialty chemicals”.

Last year, Clariant thought it had agreed a ‘merger of equals’ deal with Huntsman, but opposition from a major Clariant investor, White Tale Holdings, prevented the successful conclusion of that deal. SABIC has confirmed that it was from the backers of White Tale Holdings that it has acquired its Clariant shareholding.


Related stories:

Footwear-specific foam solution launched by Sabic 22/10/2019

Sportstextiles.com cannot be held responsible for content if the language setting is changed from English.

The translations provided by Google Translate are automated and therefore might not be accurate and may contain incorrect, offensive or misleading language. We offer this facility as a guide only.