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FinancialNews


  • 28-03-19

    70 percent shares in SABIC go to Saudi Aramco

    (MENAFN) Saudi Aramco is purchasing 70 percent of shares of the Saudi Basic Industries Corporation (SABIC).

    These shares are being acquired from the Public Investment Fund at a value of USD69.1 billion under a recently signed deal.

    However, a Saudi Press Agency report confirmed that the Saudi oil giant does not intend to buy the rest of the share.

    According to the report, the agreement is entitled to some specific closing conditions with regulatory approvals among them.

    MENAFN2803201900450000ID1098312589

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