Aramco last year agreed to buy a 70% stake in Saudi Basic Industries Corp from the Public Investment Fund, the kingdom's wealth fund, for $69.1bil.
Aramco last year agreed to buy a 70% stake in Saudi Basic Industries Corp from the Public Investment Fund , the kingdom's wealth fund, for $69.1 billion, in one of the biggest deals in the global chemical industry.
In theory, Aramco has to pay about $75 billion in dividends to the Saudi government after its initial public offering last year but analysts say its free cash flow is not expected to cover that amount. PIF is also looking to extend a $10 billion bridge loan signed with 10 banks in October and linked to the acquisition by Aramco of its stake in SABIC, one of the two sources and a separate source said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Saudi holding prince incommunicado, says rights groupHRW claims Prince Faisal bin Abdullah has been detained since March. FMTNews HRW
Read more »
Trump, Saudi king reaffirm defence ties amid tensions | Malay MailWASHINGTON, May 8 — President Donald Trump and Saudi Arabia’s King Salman spoke by phone on Friday and “reaffirmed the strong United States-Saudi defence partnership,” the White House said, amid tensions over Saudi’s oil output. The two men spoke after news the United States planned to...
Read more »
Rights group says Saudi Arabia is holding a senior prince incommunicado since March | Malay MailDUBAI, May 9 — Human Rights Watch (HRW) said today that Saudi Arabian authorities recently detained and are holding incommunicado Prince Faisal bin Abdullah, who had previously been netted in an anti-corruption drive and released in late 2017. The US-based rights group, citing a source with ties...
Read more »
Khashoggi's fiancee insists moral values must come first in Newcastle takeoverReports say a 15-man Saudi squad strangled Khashoggi and cut his body into pieces. FMTNews Khashoggi Newcastle
Read more »
'Pessimistic' Pique not holding breath for Davis Cup finalsBarcelona football star's investment group has a 25-year, US$3 bil deal with the ITF. FMTNews DavisCup
Read more »
The many ways in which you can reach out to the Department of EnvironmentQ: How can the public deal with the DOE?
Read more »