Saudi Aramco to acquire 70 pet of SABIC for $69.1 bin

摘要

Saudi Aramco signed of a share purchase agreement to acquire a 70 per cent stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund of Saudi Arabia, in a private transaction for 259.1 billion riyals or US$69.1 billion. Aramco paid 123.39 riyals per share. The stock closed on Wednesday 27th March at 124.20 riyals per share. The remaining 30 per cent publicly traded shares in SABIC are not part of the transaction, and Saudi Aramco has no plans to acquire these remaining shares, Aramco said in a statement.