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2017-08-17 15:05:00

SHELL SELLS SADAF FOR $820 MLN

SHELL SELLS SADAF FOR $820 MLN

SHELL - Shell has completed the sale of its 50% share in SADAF, the petrochemicals joint venture, located in Al Jubail, in the Kingdom of Saudi Arabia to SABIC for $820 million. This sale was announced on 22 January 2017. Completion follows anti-trust filings in the relevant countries and regulatory approval from the Kingdom of Saudi Arabia.

This acquisition will enable SABIC to optimise operations at SADAF and further invest in the facilities, integrating them with SABIC's other affiliates. This step will allow Shell to focus its downstream activities…

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Tags: SHELL, SADAF, SAUDI, SABIC
Chronicle:
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