Saudi Basic Industries Corporation acquired 50% stake in Scientific Design Company, Inc. from Clariant AG for $130 million.
Saudi Basic Industries Corporation (SASE:2010) completed the acquisition of 50% stake in Scientific Design Company, Inc. from Clariant AG (SWX:CLN) for on April 14, 2022. Clariant intends to use the proceeds of the divestment to invest into growth projects within the core Business Areas, execute the strategy along sustainability and innovation, fund the performance improvement programs as well as strengthen Clariant's balance sheet to reach and defend a solid investment grade rating.