SAUDI ARAMCO PAYS $69.1 BLN
MEOG - Saudi Aramco announced the signing of a share purchase agreement to acquire a 70% majority stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund of Saudi Arabia, in a private transaction for $69.1bn. The remaining 30% publicly traded shares in SABIC are not part of the transaction, and Saudi Aramco has no plans to acquire these remaining shares. The transaction is subject to certain closing conditions, including regulatory approvals.
Headquartered in Riyadh, Saudi Arabia, SABIC has global operations…
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