March 27, 2019 / 3:15 PM / 4 months ago

Saudi Aramco buys 70 pct of SABIC for $69.1 bln -Al-Arabiya TV

RIYADH, March 27 (Reuters) - Saudi Aramco, the world’s top oil producer, has bought a 70 percent stake in Saudi Basic Industries Corp (SABIC) from the kingdom’s sovereign wealth fund for $69.1 billion, Saudi-owned Al-Arabiya television said on Wednesday.

The deal comes after months of negotiations between Aramco and Saudi Arabia’s Public Investment Fund (PIF).

Reporting by Stephen Kalin; Editing by Susan Fenton

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below