SABIC’s acquisition of 24.99% interest in Clariant


Clifford Chance is advising SABIC, a world leader in chemicals, on its proposed acquisition of approximately 83 million shares in global chemicals company Clariant from 40 North and Corvex Management.

The acquisition of this approximately 24.9% stake in Clariant AG will make SABIC the largest Clariant AG shareholder and represents another key milestone in SABIC’s growth and diversification strategy to become the preferred world leader in chemicals.

SABIC and Clariant AG have already had a successful relationship in their joint venture, Scientific Design, a process technology and catalyst development company. SABIC is looking forward to engaging in discussions with the company.

The closing of the transaction is subject to completing regulatory approvals.

Clifford Chance is advising SABIC with a team led by partners Mohammed Al-Shukairy (Dubai, in picture), Edmund Boyo (Dubai), Daniel Winick (New York), Thomas Krecek (Frankfurt), Marc Besen (Dusseldorf), Tony Reeves (Brussels), Jeroen Thijssen (Amsterdam) and Jelle Hofland (Amsterdam). Counsel team members were Andrew Steele (Dubai), Jim Back (Brussels), Dimitri Slobodenjuk (Düsseldorf) and Heleen Engelen (Brussels).

AS&H are acting as Saudi law counsel and Lenz & Staehelin are acting as Swiss law counsel to SABIC.

Lenz & Staehelin team is led by Hans-Jakob Diem (Corporate) and includes partners Patrick Schleiffer (Capital Markets) and Roland Fischer (Finance) as well as associates Simone Ehrsam (Corporate), Lukas Held (Corporate) and Stephan Brandner (Tax).

Involved fees earner: Hans-Jakob Diem – Lenz & Staehelin; Simone Ehrsam – Lenz & Staehelin; Lukas Held – Lenz & Staehelin; Patrick Schleiffer – Lenz & Staehelin; Roland Fischer – Lenz & Staehelin; Stephan Brandner – Lenz & Staehelin; Mohammed Al-Shukairy – Clifford Chance; Thomas Krecek – Clifford Chance; Jeroen Thijssen – Clifford Chance; Andrew Steele – Clifford Chance; Edmund Boyo – Clifford Chance; Daniel Winick – Clifford Chance; Jelle Hofland – Clifford Chance; Marc Besen – Clifford Chance; Tony Reeves – Clifford Chance; Jim Back – Clifford Chance; Dimitri Slobodenjuk – Clifford Chance; Heleen Engelen – Clifford Chance;

Law Firms: Lenz & Staehelin; Clifford Chance;

Clients: SABIC – Saudi Basic Industries Corporation;