SABIC now Clariant’s biggest shareholder with a 24.99% stake

25 January 2018 07:24 Source:ICIS News

SINGAPORE (ICIS)--Saudi Arabia’s petrochemical giant SABIC is now the biggest shareholder of Clariant, with a 24.99% stake in the Swiss specialty chemicals producer, Clariant said on Thursday.

The stake was previously held by White Tale, an activist investor of Clariant which was opposed to the merger of the Swiss producer with US’ Huntsman.

“Clariant intends to engage with SABIC over the coming weeks in order to discuss the new situation and explore possible ways to create value,” Clariant said in a statement.

By Pearl Bantillo