Aramco completes acquisition of a 70% stake in Sabic for $69.1 billion

摘要

Saudi Aramco today announced the completion of its share acquisition of a 70% stake in Sabic from the Public Investment Fund (PIF; Riyadh), the sovereign wealth fund of Saudi Arabia, for a total purchase price of 259.125 billion Saudi riyals ($69.1 billion), equal to SR123.39/share. Aramco says the transaction enhances its presence in the global petrochemicals industry, a sector expected to record the fastest growth in oil demand in the years ahead.