Saudi SABIC lifts Swiss chemicals maker Clariant stake

Saudi SABIC lifts Swiss chemicals maker Clariant stake

FILE PHOTO: The headquarters of Saudi Basic Industries Corp (SABIC) is seen in Riyadh, Saudi Arabia April 19, 2016.. The company's decision to hike its stake comes after it took an impairment charge of 1.5 billion riyals ($400 million) on its investment in Clariant in its third quarter.. SABIC is just shy of the one-third stake that would require it to make an offer for all of Clariant, but Clariant said it did not expect the Saudi chemical giant to seek a takeover..