Saudi's SABIC buys 24.99% stake in Swiss chemicals maker Clariant | ZAWYA MENA Edition:
"Saudi Basic Industries Corp (SABIC) has agreed to acquire a 24.99 percent stake in Swiss specialty chemicals maker Clariant AG , SABIC said on Thursday, becoming the Swiss company's largest shareholder. SABIC did not say how much it paid for the deal, but Clariant's 24.99 percent stake is worth $2.4 billion based on its market capitalisation. SABIC bought the stake from Corvex hedge fund and New York's 40 North. Clariant AG recently abandoned merger plans with Huntsman . "
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