January 28th, 2018 - 11:30 GMT
SABIC, a world leader in chemicals, has agreed to acquire approximately 83 million shares in Clariant AG, a global specialty chemicals company, from 40 North and Corvex Management.
Since SABIC’s founding, its employees have exhibited a remarkable ability to do what others said couldn’t be done.
Ranked among the world’s largest petrochemicals manufacturers, SABIC is a public company based in Riyadh, Saudi Arabia. 70% of the Company’s shares are owned by the Saudi Arabian government, with the remaining 30% publicly traded on the Saudi stock exchange. SABIC began in 1976 by Royal decree and its growth has been nothing short of miraculous. Today, the company has operations in over 50 countries with a global workforce of over 35,000 talented individuals.