February 28, 2020 / 11:15 AM / a month ago

Aramco secures unconditional EU okay for $69 billion SABIC deal

BRUSSELS (Reuters) - World No. 1 oil producer Saudi Aramco 2222.SE has gained unconditional EU antitrust approval for its $69 billion bid for a 70% stake in petrochemicals group Saudi Basic Industries Corp (SABIC) 2010.SE, according to an EU filing.

Aramco announced the deal in March last year, a move key to its diversification into refining and petrochemicals.

The European Commission cleared the deal on Thursday, a filing on its site showed. Reuters reported on Feb. 21 that the deal was heading for unconditional EU clearance.

Reporting by Foo Yun Chee; editing by Francesco Guarascio

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below