Saudi Aramco-SABIC Merger

  • Author: ChemistryViews
  • Published: 18 June 2020
  • Copyright: Wiley-VCH
  • Associated Suppliers: Saudi Basic Industries Corporation (SABIC), Riyadh, Saudi Arabia | Saudi Aramco, Dhahran, Saudi Arabia
thumbnail image: Saudi Aramco-SABIC Merger

Aramco announced the closing of the acquisition of a 70 % stake in SABIC from the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, for a total purchase price of SAR 259.125 billion (US$ 69.1 billion), equating to SAR 123.39 price per share.


The completion of the transaction strengthens Aramco’s presence in the global petrochemicals industry. Combined, Aramco and SABIC recorded a petrochemicals production volume of nearly 90 million tonnes, including agricultural nutrients and specialty products, in 2019.

The acquisition strengthens, in particular, Aramco’s chemicals strategy. SABIC expects to benefit from Aramco’s downstream chemicals feedstock production, and its ability to invest in and execute major growth projects at a large scale.


 

 

 



 

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Magazine of Chemistry Europe (16 European Chemical Societies)published by Wiley-VCH