(MENAFN) The Dow Chemical Company had announced it signed a Memorandum of Understanding (MOU) with Saudi Aramco which sets forth a process to acquire an additional 15% ownership interest from Saudi Aramco in Sadara Chemical Company (Sadara).
The equity ownership is currently split 65% for Saudi Aramco and 35% for Dow, and if the potential transaction is concluded as presently proposed, both will hold 50% stake in Sadara.
Andrew Liveris, Dow"s chairman and CEO said in a statement: "Sadara is the result of a game-changing partnership between Saudi Aramco and Dow by delivering market-driven solutions that support the diversification of the country"s economy."
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