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Saudi Aramco completes $69 billion SABIC stake deal

Saudi Aramco completes $69 billion SABIC stake deal

Saudi Aramco has completed its purchase of a 70% stake in petrochemicals company Saudi Basic Industries for $69.1 billion and extended the payment period by three years to 2028. The deal values SABIC at 123.39 riyals ($32.90) per share, 27.5% above the company’s share price. SABIC is the world’s fourth-biggest petrochemicals company.

Timothy
Timothy
Top in Business