Saudi Aramco acquires $69 billion stake in petrochemical firm SABIC

Saudi Aramco acquires $69 billion stake in petrochemical firm SABIC

Saudi Arabia’s national oil company has agreed to buy a majority stake in the kingdom’s petrochemicals firm for $69.1 billion. Aramco plans to buy 70 per cent of Saudi Basic Industries (Sabic) from the kingdom’s sovereign-wealth fund, the Public Investment Fund. The agreement in principle culminates over a year of negotiations between Saudi Arabia’s two biggest companies.

KCooper
KCooper
Danny Mcgrath
Danny Mcgrath 1 year

I cannot wait until these savages run out of oil. Then it's back to the camels and tents where they belong.

Top in Business
Get the App