Saudi Aramco still in ‘price talks’ with PIF for SABIC stake: CEO

23/01/2019 Argaam

 

Saudi Aramco is still in price talks with the Public Investment Fund (PIF) to acquire a strategic interest in Saudi Basic Industries Corporation (SABIC), chief executive officer (CEO) Amin Nasser told Bloomberg on Tuesday.

 

The state-run oil producer is not planning to buy the remaining 30 percent stake in the petrochemicals firm.

 

In July 2018, the company confirmed talks with the Kingdom’s sovereign wealth fund over the acquisition of its 70 percent stake in SABIC, according to data compiled by Argaam.

 

Read: Saudi Aramco confirms talks with PIF to acquire SABIC stake

 

“Saudi Aramco is mulling all available options to finance the deal, including international bonds. The issuance size and price will be unveiled later on, when the company makes the related disclosures,” Nasser said.

 

Earlier this month, Saudi energy minister Khalid Al-Falih said that Saudi Aramco is planning bond issuance in Q2 2019, Argaam reported. 

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