Gulf Oil and Gas accountACCOUNT

SAFCO, SABIC Hire Advisers for Ibn Al-Baytar Stake Sale

Source: Reuters 10/10/2016, Location: Middle East

Two Saudi petrochemical giants have hired investment banks to advise on the potential sale of a stake in the Ibn Al-Baytar fertiliser company.

Saudi Arabia Fertilizers Co (SAFCO) has hired Samba Capital, while Saudi Basic Industries Corp (SABIC) has chosen HSBC's Saudi Arabian unit, the two companies said in separate bourse statements.

SAFCO is considering taking full control of chemical fertiliser producer Ibn Al-Baytar by buying out its joint venture partner SABIC, SAFCO said in a bourse statement in March.

The two companies said there was no definitive sale agreement yet, and a study which will examine the economic feasibility of the transaction is due to be completed in the first quarter of 2017.

Ibn Al-Baytar is a 50/50 joint venture between SABIC and SAFCO which produces ammonia, urea, compound fertiliser, phosphate, and liquid fertiliser, according to information on SABIC's website.

Investment News in Saudi Arabia >>

Russia >>  3/19/2019 - The Gazprom Board of Directors expressed its approval the Company’s ongoing work on its major investment projects. One the Company’s current prioritie...
Canada >>  3/18/2019 - Williams announced a series of transactions that will establish a new platform for the optimization of its midstream operations in the western Marcell...

Bahamas >>  3/15/2019 - Bahamas Petroleum, the oil and gas exploration company with a significant prospective resource in licences in The Commonwealth of The Bahamas, has ann...
Libya >>  3/10/2019 - Chairman of National Oil Corporation (NOC), Eng. Mustafa Sanalla took part in the Libyan-German Economic Forum, held on March 8, 2019, in Tunis, along...

Egypt >>  3/7/2019 - DEA has extended its concessions for the Ras Budran and Zeit Bay oil fields in the Gulf of Suez. At a formal ceremony event, witnessed by H.E. Eng. Ta...
Mexico >>  3/6/2019 - Two private partners of Mexico’s state-run oil company Pemex will invest a combined $250 million in two projects over the next four years as they aim ...

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  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Saudi Arabia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.