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Sipchem signs an agreement to acquire a stake in International Gases Co.
On July 24, 2018, Saudi International Petrochemical Co. (Sipchem) signed agreement to acquire National Power Co.'s 25 percent stake in International Gases Company (IGC).
Sipchem owned 72 percent stake in IGC. On completion of the acquisition, Sipchem’s stake will rise to 97 percent.
Deal Value | Method of Finance | Type | Status |
- | Internal Resources | Stake | Completed |
The Acquiring Party
Sahara International Petrochemical Co. - SIPCHEM | |
Country | Saudi Arabia |
Status | Listed |
Argaam Sector | Petrochemicals |
*Market Cap (Million SAR) | 23,686.56 |
*Price/Share (SAR) | 32.30 |
The Acquired Party
International Gases Company - IGC | |
Country | Saudi Arabia |
Status | Unlisted |
Argaam Sector | - |
*Market Cap (Million SAR) | - |
*Price/Share (SAR) | - |
- *Based on the latest data available
Important Dates
Announced Date | 24-07-2018 |
Expected date for Completion | 24-08-2018 |
Main Details
International Industrial Gases was established in 2006 at Jubail Industrial City with a paid-up capital of SAR 425.400 mln. The company produces 345,000 tpa of carbon monoxide, and 65,000 tpa of hydrogen.
In 2017, the company reported sales of SAR 265.2 mln, an increase of 18 percent year-on-year (YoY).
In the same year, the company reported profit of SAR 29.2 mln from SAR 12.3 mln in the previous year, an increase of 136 percent year-on-year (YoY).
Note
* Zamil Group Holding Co. is a related party to the transaction, being a shareholder in Sipchem and National Power Co.
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