SABIC received the final outstanding regulatory approvals from the competition authorities for the purchase of a 24.99% stake in Clariant, the latter announced.
An unconditional closing of the purchase will take place in early-to-mid-September, which makes SABIC Clariant’s largest strategic anchor shareholder, and second anchor shareholder besides the group of former shareholders of Süd-Chemie.
SABIC, the world’s third-largest diversified chemical company and a long-standing partner of Clariant in the Catalyst joint venture Scientific Design, 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,” Clariant CEO Hariolf Kottmann said.
Clariant and SABIC are discussing possible future collaborations that will generate value for the stakeholders of both companies. Any outcome of these discussions will be presented in due course.