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MENAFN - 07/01/2014
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(MENAFN) Saudi Arabia-based Sahara Petrochemical and Saudi International Petrochemical Company (Sipchem) are hoping to complete a share-swap merger in 2014's first half to create a USD5 billion firm, Saudi Gazette reported



Should the merger happen, Sahara would become a subsidiary of Sipchem. Sipchem will be offering 0.685 new shares in exchange for one Sahara share



Sipchem is valued at USD2.8 billion, while Sahara is valued at USD2.19 billion

 


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