Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Sahara to sign a proposed combination of equals with Sipchem  Join our daily free Newsletter

MENAFN - 08/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN) Sahara Petrochemical Company has signed a memorandum of understanding with Saudi International Petrochemical Company (Sipchem) for continuing the non-binding negotiations related to the detailed terms of a proposed merger of equals, according to Saudi Gazette.

In a note posted on the Tadawul website, it said the agreement was done on Wednesday, which came as a result of the preliminary conclusions of the studies and negotiations in relation to the proposed merger.

Both companies have agreed that, in the event the proposed merger occurs, it will be implemented by way of an exchange of shares where, after the proposed merger is completed, the company will become a subsidiary of Sipchem. Under the terms of the proposed merger, Sipchem will issue 0.685 new shares for every one issued share in the company.

Under the MoU, Sahara and Sipchem have agreed to continue to cooperate with each other to complete the financial, technical, commercial, market and legal due diligence, agree an integration plan, and the governance and strategy of the combined group as well as the preparation of the definitive documentation required to implement the proposed merger.

 


MENAFN




  MENA News Headlines
 Sep 1 2015 - Saudi- Short circuit caused Aramco fire 3 Canadians among deadArab News
(MENAFN - Arab News) ALKHOBAR: A short circuit involving a transformer in the basement of the residential complex of Saudi Aramco resulted in the fire on Sunday according to a preliminary probe. The ...

 Sep 1 2015 - Saudi- Why top women won't contest civic electionsArab News
(MENAFN - Arab News) JEDDAH: A number of prominent Saudi women have cited several reasons for not running as candidates in the upcoming municipal elections. Some of them are an alleged lack of ...

 Sep 1 2015 - Car Bomb Hits Libya's TripoliQatar News Agency
(MENAFN - Qatar News Agency) A car bomb exploded in the Thahra area of central Libyan capital Tripoli on Monday.One person was injured in the blast and a number of cars parked nearby were damaged. ...

 Sep 1 2015 - The Syrian conundrumArab News
(MENAFN - Arab News) This is with reference to the article 'Ousting Assad must to defeat Daesh' (Aug. 31) by Hassan Barari. Saudi Arabia has been calling for the removal of Bashar Assad since the ...

 Sep 1 2015 - Israeli Naval Forces Fire on Gaza FishermenQatar News Agency
(MENAFN - Qatar News Agency) Israeli naval forces opened fire on Palestinian fishing boat off the coast of Gaza City on Tuesday morning. The fishermen came under fire as they were sailing off the ...

 Sep 1 2015 - Saudi- Power politicsArab News
(MENAFN - Arab News) I read with interest the article 'Justice done to death' (Aug. 31) by Neil Berry. I have started to believe that laws are meant only to rein in the masses worldwide. People like ...

 Sep 1 2015 - Qatar- QTA Awarded Best Arab Government Tourism AuthorityQatar News Agency
(MENAFN - Qatar News Agency) Qatar Tourism Authority (QTA) Monday announced receiving the award of "Best Arab tourist governmental body" for 2015, and granted by the Arab Center for Media tourism, ...

 Sep 1 2015 - Tortured alive or poisoned to death: The suffering of stray dogs in EgyptDaily News Egypt
(MENAFN - Daily News Egypt) They were born believing the streets are their home. No matter how unsafe home is, they don't have anywhere else to go to, it's where they belong. Even if that means ...

 Sep 1 2015 - Egypt- The witches and wizards of the Patient Support Team: A new approach for charity eventsDaily News Egypt
(MENAFN - Daily News Egypt) If you are a Harry Potter fan living in Egypt, you will almost certainly have heard about the Harry Potter Experience organised by the Patient Support Team (PST). Last ...

 Sep 1 2015 - The industrialisation of reconciliation: Iran, Saudi Arabia and ISDaily News Egypt
(MENAFN - Daily News Egypt) came across a curious news item the other day on Reuters about an industrial development project in Saudi Arabia, and it rang a few bells. The plan is to build a "new ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help