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India’s antitrust body clears Saudi Aramco’s acquisition of SABIC

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*Saudi Aramco REUTERS/Hamad Mohammed.

News wire —  The Competition Commission of India (CCI) said on Friday it approved Saudi Aramco’s acquisition of a 70% stake in Saudi Basic Industries Corporation (SABIC).

An approval from India’s antitrust body is required as SABIC has subsidiaries operating in India, while Aramco Overseas Co, a unit of Saudi Aramco, also has an office in the South Asian nation.

In March, Saudi Aramco had agreed to buy the stake for $69.1 billion, in one of the biggest deals in the global chemical industry.


India’s antitrust body clears Saudi Aramco’s acquisition of SABIC India’s antitrust body clears Saudi Aramco’s acquisition of SABIC Reviewed by Crude Oil Brokers on 10:46 Rating: 5

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