SABIC acquires 24.99% stake in Clariant

摘要

SABIC, in a significant move into specialty chemicals, has agreed to acquire the stake in Clariant held by activist investors 40 North and Corvex Management. SABIC will buy approximately 83 million Clariant shares from the two companies-which they hold via the investment fund White Tale Holdings-making SABIC the largest shareholder in Clariant with approximately 24.99% of the equity. The value of the proposed deal has not been disclosed. SABIC says it "currently has no plans to launch or otherwise effect a full takeover" of Clariant. But analysts say SABIC could seek to convince the second-biggest shareholder group, a family linked to Süd-Chemie that Clariant bought in 2011, to sell out. "SABIC is not known to be satisfied with minority stakes," said Baader Helvea analyst Markus Mayer. "As a consequence, I think they will try to get the Süd-Chemie families' 14% holding and then make an offer for the rest."