Media ININ Economy We Trust
Media In / Riyadh 10 September
Saudi Basic Industries Corp (SABIC), the world’s third-largest diversified chemical company, has confirmed that it has obtained all approvals from competitors for acquiring a 24.99% stake in Clarent AG, ), And Corvix Management, which manages the financial procedures for the acquisition, which will complete the purchase on September 13.
SABIC and Clarent AG have worked together for many years as suppliers and customers and in line with SABIC’s strategic objectives, the two companies are currently discussing ways to enhance their cooperation to benefit the parties involved in their business.
SABIC Vice Chairman and Chief Executive Officer Yousef Bin Abdullah Al Bunyan said that after obtaining all approvals from the competition authorities, work will be done to develop this strategic relationship for the benefit of parties related to the two companies’ operations.
