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Clariant-SABIC union clears regulators

Saudi chemical maker SABIC has succeeded in acquiring 25% of Swiss rival Clariant AG for US$2.4 billion after gaining anti-trust regulator clearance to buy the stake from activist shareholders 40 North and Corvex Management.
Clariant-SABIC union clears regulators Clariant-SABIC union clears regulators Clariant-SABIC union clears regulators Clariant-SABIC union clears regulators Clariant-SABIC union clears regulators

Saudi Arabia's SABIC now owns 25% of fellow chemical maker Clariant AG

Staff reporter

SABIC agreed to buy the stake in Clariant earlier this year after the latter's failed attempt to merge with Huntsman Corp.

"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," Clariant said.

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