Clariant Chemicals (India) announced that its ultimate global holding Company Clariant informed that SABIC has recently completed the purchase of 24.99% stake in Clariant globally as a strategic anchor shareholder.

Further, its ultimate global holding company Clariant announced its intention to combine its Additives and high value Masterbatches with parts of SABIC's Specialties business to form the Business Area High Performance Materials which will provide customers with significant benefits and strategic advantages. It also announced about its intention to divest the remaining Plastics & Coatings business by 2020, subject to necessary approvals.

Shares of the company declined Rs 5.5, or 1.06%, to trade at Rs 515.65. The total volume of shares traded was 1,607 at the BSE (11.37 a.m., Wednesday).