CCI approves the acquisition of 70% shareholding in Saudi Basic Industries Corporation (SABIC) by Saudi Arabian Oil Company (Saudi Aramco), under Section 31(1) of the Competition Act, 2002, today.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....CI approves the acquisition of 70% shareholding in Saudi Basic Industries Corporation (SABIC) by Saudi Arabian Oil Company (Saudi Aramco), under Section 31(1) of the Competition Act, 2002, today. <br>....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....News and Press Release<br>Dated:- 27-9-2019<br><BR>The proposed transaction entails acquisition of 70% shareholding in SABIC, currently held by the Public Investment Fund of Saudi Arabia by Saudi Aram....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....co. Through this acquisition of shares, Saudi Aramco will acquire sole control over SABIC. Saudi Aramco is primarily engaged in the exploration, production and marketing of crude oil and natural gas.....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... It is also active, to a lesser extent, in the production and marketing of refined products and petrochemicals. In India, Saudi Aramco is mainly active in the supply of crude oil, liquefied petroleum ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....gas, base oil and petrochemical products. SABIC is primarily active in the production and sale of commodity chemicals (including petrochemicals), intermediates, polymers, fertilizers and to some exte....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nt metals. In India, SABIC is mainly active in the supply of agri-nutrient and petrochemical products. Detailed order of the Commission will follow.<BR> News - Press release - PIB....