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Aramco's Acquisition Will Not Affect SABIC's Investment Plans

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Saudi Basic Industries Corp’s (SABIC) investment plans will not be affected by oil giant, said SABIC Vice Chairman and CEO Yousef al-Bunyan.Aramco’s purchase of a 70 percent stake in the company would look to integrate assets with Aramco to boost growth, Bunyan told Reuters Friday.Saudi Aramco, the world’s largest oil producer, agreed on Wednesday to buy the stake in SABIC from the Public Investment Fund (PIF) for USD69.1 billion in one of the biggest deals in the global chemical industry.

Aramco's purchase of a 70 percent stake in the company would look to integrate assets with Aramco to boost growth. (Twitter)

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