May 4, 2020 / 8:33 AM / a month ago

SABIC has no interest in full takeover of Clariant - CEO

RIYADH, May 4 (Reuters) - Saudi Basic Industries Corp (SABIC) has no interest in taking over Swiss chemicals company Clariant despite hiking its stake in the company, its chief executive Yousef al-Benyan told an earnings briefing on Monday.

In March, SABIC disclosed it had raised its stake in Clariant to 31.5% from 25%, saying the increase was part of its strategy to achieve a leadership position in the Specialties business. (Reporting by Marwa Rashad; Writing by Saeed Azhar)

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