Wednesday , January 20 2021

Aramco plans to close the acquisition of SABIC in 2020

Saudi Aramco logo in Reuters image.

DUBAI (Reuters) – Saudi Aramco said in a bond issue that it intends to complete the acquisition of 70 percent of Saudi Basic Industries Corporation (SABIC) in 2020.

Aramco agreed last week to buy a majority share in the Saudi public investment fund for $ 69.1 billion.

Aramco revenue at the end of last year was $ 315.24 billion and the net profit of $ 111.07 billion, the bulletin showed.

Prepared by Ahmed Alhami for the Arabic publication

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