Sabic exec: Company will benefit from being part of Aramco

摘要

Sabic stands to gain massively from being part of the Saudi Aramco family, says Abdulrahman al-Fageeh, Sabic’s executive vice president/petrochemicals, speaking to CW on the sidelines of the K 2019 plastics fair in Duesseldorf. In March this year, Aramco agreed with the Saudi government’s Public Investment Fund to acquire the latter’s 70% stake in Sabic for $69.1 billion. The remaining Sabic shares are traded on the Riyadh stock exchange. “We really are very pleased with the Aramco transaction. It will give Sabic the ability to synergize with the largest oil company in the world and to get some of the feedstock that is available [in Saudi Arabia] and this will strengthen Sabic’s position … as a global chemicals leader,” Fageeh says. The transaction, he confrms, is going through antitrust approvals in diferent parts of the world. Aramco has previously said that it hopes to close the deal in 2020.