DUBAI (Reuters) – Saudi Energy Minister Khalid Al-Falih said on Thursday he expected the details of the Saudi Basic Industries Corp (SABIC) deal to be finalised within the first half of 2019, Saudi state TV al-Ekhbariya quoted him as saying.
FILE PHOTO: Saudi Energy Minister Khalid al-Falih attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia May 25, 2018. REUTERS/Sergei Karpukhin/File Photo
Al-Falih added that the sale of stake in petrochemicals firm SABIC to state oil giant Saudi Aramco is subject to regulatory conditions.
Aramco Chief Executive Officer Amin Nasser had said on Tuesday that anti-trust regulations abroad will mean that the company’s planned acquisition of a stake in Saudi Basic Industries Corp (SABIC) will take time.
Reporting by Tuqa Khalid, editing by Hadeel Al Sayegh