February 9, 2018 / 3:58 PM / 15 days ago

Clariant halts strategic update ahead of talks with SABIC

ZURICH, Feb 9 (Reuters) - Clariant has halted a strategic update after an activist investor last month sold its 25 percent stake in the Swiss speciality chemicals maker to Saudi Basic Industries Corp (SABIC).

Investors were due to get details of the update, which was announced in November, in early 2018.

“We have a completely new situation,” a Clariant spokesman said on Friday. “The strategic update started immediately, but now it does not make sense to proceed with something that was started under completely different circumstances.” (Reporting by John Miller)

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