Saudi Aramco Dismisses ‘Speculative’ Reports on its SABIC Transaction

Saudi Aramco Dismisses ‘Speculative’ Reports on its SABIC Transaction

Thursday, 13 September, 2018 - 18:30
Saudi Aramco oil tankers in Dammam city. (Reuters)
Asharq Al-Awsat
Saudi Aramco stated on Thursday that recent media reports on a potential Saudi Aramco- SABIC transaction are entirely speculative.

The oil giant added that it will provide updates when appropriate.

Saudi’s SABIC is a manufacturing company, active in petrochemicals, chemicals, industrial polymers, fertilizers, and metals.

Saudi Aramco had in July announced that it was in early discussion to acquiring a strategic share of SABIC through purchasing the Public Investment Funds’ share of its stock.

PIF owns nearly 70 percent of SABIC.

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