January 25, 2018 / 6:45 AM / a month ago

Activist investors sell Clariant stake to Saudi's SABIC

ZURICH, Jan 25 (Reuters) - Activist investor White Tale has sold its nearly 25 percent stake in speciality chemicals group Clariant to Saudi Arabia’s SABIC, the Swiss group said on Thursday.

The sale comes despite White Tale’s previous assertions that it was a long-term investor in Clariant, which had snubbed the activist’s demands for an independent strategic review and three seats on its board of directors.

Reporting by Michael Shields, editing by John Revill

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