SABIC will not exceed one-third holding in Clariant

摘要

SABIC, which recently received regulatory approvals to acquire a 24.99% stake in Clariant and become the company's anchor investor, has undertaken not to exceed a 33.3% ownership stake in Clariant, but may raise its holding to just below that level, Hariolf Kottmann, chairman of the Clariant board, tells CW. He was speaking to CW on 26 October on the sidelines of the Cefic Chemical Convention in Amsterdam, Netherlands. Ernesto Occhiello, former executive VP/specialties of SABIC, took over from Kottmann as CEO of Clariant on 16 October, but Kottmann remains responsible for strategy. Other newly elected Clariant board members are Abdullah Mohammed Alissa, a Saudi citizen; Calum MacLean, a UK citizen; Geoffery Merszei, a US citizen; and Khaled Hamza Nahas, a Saudi citizen.