SAFCO Eyes Potential Buy of SABIC's stake in JV

Source: Reuters 3/13/2016, Location: Middle East

Saudi Arabia Fertilizers Co 2020.SE (SAFCO) is considering taking full control of chemical fertilizer producer Ibn Al-Bayttar by buying out its joint venture partner Saudi Arabia Basic Industries Corp 2010.SE (SABIC), SAFCO said.

SAFCO said the possible sale was part of a SABIC review of its investments, according to a bourse statement.

This does not represent a preliminary agreement and does not impact SAFCO's assets, its financial situation or its operations, it said.

Jubail-based Ibn Al-Bayttar, is a 50-50 joint venture between SAFCO and SABIC, according to SAFCO's website.

SABIC owns 43 per cent of SAFCO.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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