(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
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.