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DUBAI (Reuters) – Saudi CEO Yousef al-Bunyan said on Sunday that his company was not interested in acquiring the Swiss chemical company Clarent, and that his participation in the 25% was a "long-term strategic investment".
SABIC will hold another round of negotiations on the joint venture with Clarent, which has been postponed by both companies, Bunyan said at a press conference.
Clarinet announced Thursday that joint venture negotiations with its largest shareholder, SABIC, had been suspended due to badet price divergences, which is yet another setback for the Swiss chemical industry, whose head of management abruptly resigned last week.
(Reuters)
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