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ID - Saudi Aramco to take over SABIC in $69B transaction - April 2019



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Saudi Aramco agreed to buy a 70% stake in SABIC, Saudi Arabia’s petrochemical giant, for $69.1 billion, merging the country’s two largest companies and giving Crown Prince Mohammed bin Salman’s plans to diversify the country a significant boost. The transaction is one of the biggest in the global chemical industry and formalizes a process that has been under discussion for more than a year. SABIC employs 34,000 people globally, lists 30% of its shares on the Saudi stock exchange and has......
 
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