The closing of the deal is subject to the remaining customary closing conditions contained in the share purchase agreement.
by Kudakwashe MuzoriwaSaudi Aramco has received unconditional clearance from the European Commission for its $69 billion bid for a 70 per cent stake in SABIC from the Public Investment Fund of Saudi Arabia (PIF).
In a bourse filing, Saudi Aramco stated that with the European Commission approval, the proposed acquisition has now received unconditional clearance in all jurisdictions in which pre-notification antitrust filings are required.
The state-owned oil giant said that the closing of the deal is subject to the remaining customary closing conditions contained in the share purchase agreement.
SABIC, the Kingdom’s largest non-oil industrial company, has four main business units focusing on petrochemicals, specialities, agri-nutrients and metals.
MOST READ
BUSINESS
SABB seeks to boost corporate lendingBUSINESS
HSBC considering exiting from Turkey
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
