Saudi SABIC lifts Swiss chemicals maker Clariant stake – ZAWYA
- Date: 04-Mar-2020
- Source: Zawya
- Sector:Economy
- Country:Saudi Arabia
Saudi SABIC lifts Swiss chemicals maker Clariant stake – ZAWYA
A man walks past the headquarters of Saudi Basic Industries Corp in Riyadh.. 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.. You can change your cookie settings through your browser..