Tuesday 11, September 2018 by Kudakwashe

BAML, Michael Klein to advise Saudi’s PIF on SABIC sale


Citigroup and Goldman Sachs will also advise the Kingdom’s sovereign wealth fund on the sale of its stake in SABIC to Saudi Aramco.

Bank of America Merrill Lynch and Michael Klein have won roles to advice Saudi Arabia’s Public Investment Fund (PIF) on the sale of its stake in Saudi Basic Industries Corp (SABIC) to Saudi Aramco, reported Reuters.

Saudi Aramco plans to buy a controlling stake in SABIC, possibly taking the entire 70 per cent holding owned by PIF.

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