0759 GMT - Clariant could face a negative share-price reaction in the wake of German chemical giant BASF's $1.43 billion claim over the Swiss chemicals company's alleged role in an ethylene purchasing cartel, Citi analyst Ranulf Orr says in a note. Clariant could shed 10% of its market capitalization if the claim is successful, he says. The European Commission fined Clariant in July 2020 alongside Celanese, Orbia and Westlake. Shell also filed a similar claim in 2023. "The burden is on BASF (and Shell) to prove the damages, which given the four's small volume in global ethylene purchasing may be challenging," the analyst says. The resolution is likely to take years, and if the claim goes through and is split equally across the four companies, could lead to paying 10% of its market cap, he says. (helena.smolak@wsj.com)
(END) Dow Jones Newswires
January 14, 2025 02:59 ET (07:59 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。