Friday, 25 May 2018 09:24 GMT

Sipchem, Sahara in merger talk

(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

Sipchem, Sahara in merger talk

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