September 18, 2018 / 6:27 AM / 3 months ago

BRIEF-Clariant CEO Says Not Aware Of Full Takeover Plans By SABIC

Sept 18 (Reuters) - Clariant:

* CFO SAYS HAS ABOUT 50 PERCENT STAKE IN JV AT THE MOMENT, WILL INCREASE IT AT SOME POINT

* CEO SAYS AS FAR AS HE KNOWS SABIC DOES NOT HAVE THE INTENTION TO TAKE OVER ALL OF CLARIANT

* EXEC SAYS HAS CORPORATE GOVERNANCE AGREEMENT WITH SABIC THAT IS VALID SEVERAL YEARS THAT SAYS CLARIANT IS AN INDEPENDENT COMPANY

* EXEC SAYS DEBT LEVELS TO GO UP ONLY SLIGHTLY RELATED TO THE TRANSACTION, NO CAPITAL INCREASE

* CEO SAYS HIS SUCCESSOR OCCHIELLO HAS STRONG EXPERTISE IN GENERAL MANAGEMENT AND TECHNOLOGY, HIS APPOINTMENT IS A “VERY LOGICAL STEP”

* CEO SAYS WILL CONTINUE AS AN INDEPENDENT COMPANY WITH TWO ANCHOR SHAREHOLDERS Further company coverage:

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