Clariant confirms SABIC to complete purchase of 24.99% stake in Clariant after receiving all regulatory approvals
Clariant AG / Clariant confirms SABIC to complete purchase of 24.99% stake in Clariant after receiving all regulatory approvals . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.
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Muttenz, September 10, 2018 - Clariant, a world leader in specialty chemicals, today 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, 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", said Hariolf Kottmann, CEO of Clariant.
Clariant and SABIC are discussing about possible future collaborations that will generate value for the stakeholders of both companies. Any outcome of these discussions will be presented in due course.
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| Jochen Dubiel Phone +41 61 469 63 63 jochen.dubiel@clariant.com | Anja Pomrehn Phone +41 61 469 63 73 anja.pomrehn@clariant.com |
| Claudia Kamensky Phone +41 61 469 63 63 claudia.kamensky@clariant.com | Maria Ivek Phone +41 61 469 63 73 maria.ivek@clariant.com |
| Thijs Bouwens Phone +41 61 469 63 63 Thijs.bouwens@clariant.com | |
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| www.clariant.com Clariant is a globally leading specialty chemicals company, based in Muttenz near Basel/Switzerland. On 31 December 2017 the company employed a total workforce of 18 135. In the financial year 2017, Clariant recorded sales of CHF 6.377 billion for its continuing businesses. The company reports in four business areas: Care Chemicals, Catalysis, Natural Resources, and Plastics & Coatings. Clariant's corporate strategy is based on five pillars: focus on innovation through R&D, add value with sustainability, reposition portfolio, intensify growth, and increase profitability. |
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Source: Clariant AG via Globenewswire