(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."
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