Saudi Sabic purchases 25 percent stake from White Tale Holdings
(MENAFN) Caliriant had been targeted by a Saudi Sabic that sold its shares to Saudi Basic Industries Corp instead of pushing for a sale of the Swiss chemical maker.
Saudi stock exchange received a statement from the buyer Sabic that confirmed 24.99% stake to have been purchased from White Tale Holdings.
The statement also explained that Sabic "currently has no plans" to present a takeover proposal for Clariant.
Switzerland-based company Muttenz stated "Clariant intends to engage with Sabic over the coming weeks in order to discuss the new situation and explore possible ways to create value."
Saudi stock exchange received a statement from the buyer Sabic that confirmed 24.99% stake to have been purchased from White Tale Holdings.
The statement also explained that Sabic "currently has no plans" to present a takeover proposal for Clariant.
Switzerland-based company Muttenz stated "Clariant intends to engage with Sabic over the coming weeks in order to discuss the new situation and explore possible ways to create value."
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