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| Exchange Received Time 18/09/2018 19:15:13 Exchange Disseminated Time 18/09/2018 19:15:17 Time Taken 00:00:04 | We have been informed by our ultimate global holding Company Clariant that SABIC has recently completed the purchase of 24.99 % stake in Clariant globally as a strategic anchor shareholder.
Further, our ultimate global holding Company Clariant, announced today about its intention to combine its Additives and high value Masterbatches with parts of SABIC's Specialties business to form the Business Area High Performance Materials which will provide customers with significant benefits and strategic advantages. It also announced about its intention to divest the remaining Plastics & Coatings business by 2020, subject to necessary approvals.
The regional and country level implications of this strategic decision will be mapped out in course of the next few months.
The Company will keep the regulatory bodies, authorities & the stakeholders updated on this matter.
Kindly take this intimation on record and acknowledge the receipt.
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