The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Saudi Basic Industries Corp. has no interest in taking over Clariant AG after the chemicals makers last week halted talks on their high-performance plastics venture, the company’s chief
executive officer said.
“Our investment in Clariant is a strategic investment, we’re going to continue to look at this investment as a growth opportunity,†Yousef Abdullah Al Benyan told reporters in Riyadh on Sunday. Sabic last year bought a 24.99 percent stake in the Swiss chemicals specialist.
“We have no interest in a full takeover if that’s your question, but we have an interest to grow our share and make sure that we can really bring positive growth and return on investment for Sabic and Clariant shareholders,†Al Benyan said when asked about the prospect of raising its stake. Sabic is the biggest petrochemicals maker in the Middle East.