Abstract
Swiss speciality chemicals major Clariant and Tasnee, one of the largest industrial conglomerates in Saudi Arabia, have signed an agreement to establish a masterbatches joint venture (JV) in Saudi Arabia. Under the terms of the deal, Tasnee will acquire a 40% stake in Clariant Masterbatches (Saudi Arabia) Ltd via its 100% subsidiary Rowad National Plastic Company Ltd. The JV will be operational following completion of customary merger control clearance procedures and will keep its main focus on the Arabic peninsulas core market.
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