Dow Chemical to increase stake in Saudi Sadara with Aramco| MENAFN.COM

Friday, 01 July 2022 01:44 GMT

Dow Chemical to increase stake in Saudi Sadara with Aramco


(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."

MENAFN2908201700450000ID1095784748


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.