UPDATE 1-SABIC still keen on Clariant joint venture once conditions improve - Reuters:
Saudi Basic Industries Corp (SABIC), the world’s fourth-biggest petrochemicals firm, said on Sunday it has no interest in taking over Swiss chemicals firm Clariant but remains keen on a partnership once market conditions improve.
Some analysts have said that SABIC, which owns a 25% stake in Clariant, could consider taking over the company after the Swiss firm last week saw its chief executive quit, announced a loss for the first half of the year and shelved its joint venture plans with SABIC.
“We have no interest in a full takeover, if that’s your question, but we have interest to grow our share and make sure that we can bring positive growth and retain investment for SABIC and Clariant shareholders,” SABIC CEO Yousef al-Benyan told a news conference.
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