Saudi Arabian chemical company SABIC is set to purchase a controlling 24.9 % stake in global specialty chemicals outfit , plc , from global North and global Management , subject to regulatory approval . Although plc 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.