Saudi Basic Industries Corp acquires 24.99% in Clariant from White Tale
On January 25, 2018, Saudi Basic Industries Corp (SABIC), the Saudi-based chemical firm, announced that it has entered into a definitive agreement with funds comprising White Tale to acquire 24.99% of the share capital of Clariant AG, the Swiss specialty chemicals company listed on SIX Swiss Exchange. Upon completion of the acquisition, SABIC will be the largest shareholder of Clariant. The acquisition is subject to receipt of regulatory approvals in a number of jurisdictions.
Lenz & Staehelin is advising SABIC in this transaction. The team is led by Hans-Jakob Diem (Corporate) and includes partners Patrick Schleiffer (Capital Markets) and Roland Fischer (Finance) as well as associates Simone Ehrsam (Corporate), Lukas Held (Corporate) and Stephan Brandner (Tax).