Riyadh – Mubasher: Saudi Basic Industries Corporation (SABIC) has purchased additional shares in Clariant AG, raising its stake to 31.5%.

The move is part of SABIC's growth strategy to achieve a leadership position among global peers, according to a statement to the Saudi Stock Exchange (Tadawul).

The transaction’s completion is subject to regulatory approvals.

Prior to buying the additional shares, SABIC owned a 25% stake in the Switzerland-based company.