Saudi Aramco has received an unconditional clearance from the European Commission for its proposed acquisition of a 70 percent stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund of Saudi Arabia (PIF).

Accordingly, the acquisition deal has received unconditional clearance in all jurisdictions in which pre-notification antitrust filings are required, Aramco said in a statement on Tadawul.

“The closing of the proposed transaction is subject to the remaining customary closing conditions contained in the Share Purchase Agreement,” the statement added.

(Writing by Nada Al Rifai nada.rifai@refinitiv.com , editing by Seban Scaria)

#SAUDIARABIA #ARAMCO #SABIC #OIL #ACQUISITION

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