This Article is From Sep 27, 2019

Antitrust Body Clears Saudi Aramco's Acquisition Of SABIC

In March, Saudi Aramco had agreed to buy the stake for $69.1 billion, in one of the biggest deals in the global chemical industry.

Antitrust Body Clears Saudi Aramco's Acquisition Of SABIC

The Competition Commission of India (CCI) said on Friday it approved Saudi Aramco's acquisition of a 70 per cent stake in Saudi Basic Industries Corporation (SABIC).

An approval from the country's antitrust body is required as SABIC has subsidiaries operating in India, while Aramco Overseas Co, a unit of Saudi Aramco, also has an office in India.

In March, Saudi Aramco had agreed to buy the stake for $69.1 billion, in one of the biggest deals in the global chemical industry.