Finance
Clariant rejects 2 billion euro damages claim
Published by Global Banking & Finance Review®
Posted on October 3, 2025
1 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on October 3, 2025
1 min readLast updated: January 21, 2026
Clariant rejects a €2 billion damages claim by BP and ExxonMobil, alleging competition law breaches in the ethylene market.
(Reuters) -Swiss specialty chemicals maker Clariant has rejected allegations from BP Europe and an ExxonMobil subsidiary who are seeking damages for breaching competition law in the ethylene purchasing market.
Clariant was one of four companies which have received claims for damages totalling 1.96 billion euros ($2.30 billion) which have been lodged with courts in Munich and Dortmund, the company said.
"Clariant firmly rejects the allegations and will adamantlydefend its position in the proceedings," the company said.
"Clariant has substantiated economic evidence that the conduct of the parties did not produce any effect on the market," it added.
($1 = 0.8532 euros)
($1 = 0.8535 euros)
(Reporting by Simon Ferdinand Eibach, editing by John Revill)
Competition law is a set of regulations that promote fair competition and prevent monopolistic practices in the marketplace.
A subsidiary is a company that is completely or partly owned and controlled by another company, known as the parent company.
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