Saudi stock market website, Tadawul, showed today, Sunday, the implementation of special deals on SABIC share with a total value of 259.1 billion riyals.
According to ArabiaNet, Aramco has executed a purchase transaction of 70% of SABIC at the previously announced price.
The acquisition was executed through 4 special deals with a total value of $ 69.1 billion.
Until the middle of the session, the trading value of SABIC shares during the session today, which was viewed by Al-Arabiya.net, amounted to 259.2 billion riyals.
Saudi Aramco announced last March that it had acquired 70% of the capital of the Petrochemical Industry Company SABIC from the Public Investment Fund, the sovereign wealth fund of the Kingdom, on the closure track in The second quarter.
Aramco said all necessary regulatory approvals were obtained. An announcement will be made in due course.
In November last year, Saudi Aramco reached an agreement with the Saudi Public Investment Fund to make an amendment to the terms of payment for the purchase of the public investment fund's 70% stake in the Saudi company. SABIC Basic Industries.
The deal is valued at $ 69.1 billion.
