Clariant is a global leader in the specialty chemicals industry. The company announced that Sabic had obtained final approval from the competition regulator and was allowed to buy a 24.99% stake in the department.
As a result, the acquisition will be completed unconditionally within the next few days, making Sabic the largest strategic anchor shareholder in Clariant and the second-largest strategic anchor shareholder of the Sud-chemie group in addition to its former shareholder. Sabic is the third largest diversified chemical company in the world and a long-term partner in the scientific design of the catalysts joint venture company.
The company reached a takeover agreement in January 2018 on the acquisition of the branch Ryan stake. Hariolf Kottmann, Clariant's chief executive, said: ' As Sabic has been approved by all regulatory authorities and the deal is nearing completion, we want to further develop strategic relationships between the two companies to create value for all stakeholders.
' Clariant and Sabic are discussing possible future collaborations that will create value for the stakeholders of two companies.