Saudi Aramco acquires 70% stake in SABIC for $69.1b

Saudi Aramco acquires 70% stake in SABIC for $69.1b

REUTERS/Hamad I Mohammed/File Photo

Saudi Aramco has completed its purchase of a 70% stake in petrochemicals company Saudi Basic Industries for $69.1 billion and extended the payment period by three years to 2028, providing a cushion against weak oil prices.