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Saudi Arabian Oil Co (64EZ)

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Monday 02 March, 2020

Saudi Arabian Oil Co

Saudi Aramco Announcement

RNS Number : 5885E
Saudi Arabian Oil Company
02 March 2020
 

 

 

 

ANNOUNCEMENT

 

Saudi Aramco's Proposed Acquisition of 70% Majority Stake in SABIC Receives Unconditional Clearance from European Commission

 

Dhahran, Saudi Arabia, February 27, 2020 - Saudi Aramco announces that its proposed acquisition of a 70% majority stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund of Saudi Arabia (PIF) has received unconditional clearance from the European Commission. 

With this, the proposed acquisition has now received unconditional clearance in all jurisdictions in which pre-notification antitrust filings are required.  The closing of the proposed transaction is subject to the remaining customary closing conditions contained in the Share Purchase Agreement. 

 

Forward-Looking Information

This release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements. Saudi Aramco believes that the forward-looking statements are based upon reasonable assumptions and expectations. However, you are cautioned that any such forward-looking statements are not guarantees of the future and that a number of risks and uncertainties could cause actual events to differ materially from those anticipated in the forward-looking statements.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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