Reports: Aramco seeking to cut price of Sabic acquisition

摘要

Saudi Aramco is in early talks to restructure its deal to acquire a 70% stake in Sabic and to reduce the price tag following a more than 40% drop in the Sabic share price due to the coronavirus disease 2019 (COVID-19) pandemic, according to reports on Reuters and Bloomberg. Bloomberg further reports that Aramco is also seeking to delay payments to the Public Investment Fund (PIF; Riyadh) beyond the current agreed schedule. The two sides have already agreed to stagger the payments once.