Clariant AG faces 1.1 billion euros and 860 million euros in damage claims for alleged competition law infringement in the ethylene purchasing market. The claims were filed by BP Europe SE, BP p.l.c., and ExxonMobil Petroleum & Chemical B.V., Exxon Mobil Corporation. Clariant denies the allegations and plans to vigorously defend itself, citing economic evidence of no market impact. The European Commission had sanctioned the market in July 2020. Despite the legal challenges, Clariant’s stock closed 0.47% higher at CHF 7.41 on the Swiss Stock Exchange.

Read more at Nasdaq: Clariant Rejects EUR 1.96 Bln Damages Claims From BP, ExxonMobil