The scramble for speciality chemicals company Clariant (Muttenz / Switzerland; www.clariant.com) seems to have come to a close for the time being. Following the failed merger with Huntsman (The Woodlands, Texas / USA; www.huntsman.com) in 2017 (see Plasteurope.com of 27.10.2017), subsequent claims by US activist investor White Tale following a reorientation of the group (see Plasteurope.com of 30.10.2017) and supposed takeover interest by investor CVC Capital Partners (see Plasteurope.com of 09.11.2017), Sabic (Riyadh / Saudi Arabia; www.sabic.com) has now joined in.

For an undisclosed amount, the Saudi plastics and chemicals group has acquired a 24.99% stake in Clariant, which was previously held by 40 North and Corvex Management. The transaction makes Sabic the largest Clariant shareholder. The two companies are already partnered with a joint venture, Scientific Design (Little Ferry, New Jersey / USA; www.scidesign.com), that is a chemical process technologies and catalysts supplier.

Clariant says it plans to work with Sabic in the coming weeks "to discuss the new situation and explore possible ways to create value." The Swiss company's existing dialogue with all other shareholders is also set to continue. In a statement to media, Sabic CEO Yousef Al-Benyan said the stake in Clariant aligns with Sabic's strategy to open up growth opportunities in speciality chemicals.

Clariant recently inaugurated a new site in Yanbu / Saudi Arabia for the production of white masterbatches (see Plasteurope.com of 23.01.2018). The company operates another masterbatch plant in the capital, Riyadh.