Saudi Arabian chemical company SABIC is set to purchase a majority approximately 24.9% stake in global specialty chemicals outfit, Clariant, from 40 North and Corvex Management, subject to regulatory approval. Although SABIC has no current plans for a full takeover, the move is part of a wider plan to open up new growth opportunities in the specialty chemicals sector. The two companies have previously collaborated on process technology and catalyst development firm Scientific Design.
Saudi Arabian chemical company SABIC is set to purchase a majority 24.9% stake in global specialty chemicals outfit, Clariant, from 40 North and Corvex Management, subject to regulatory approval. Although SABIC has no current plans for a full takeover, the move is part of a wider plan to open up new growth opportunities in the specialty chemicals sector. The two companies have previously collaborated on process technology and catalyst development firm Scientific Design.