(EnergyAsia, April 12) — Finland’s Neste Oil said it is selling its 10% holding in the Saudi European Petrochemical Company Ibn Zahr to Saudi Basic Industries Corporation (SABIC) for US$120 million. Neste Oil will book a capital gain on the sale of approximately EUR 85 million. (US$1=0.82 Euro). The companies expect to close the deal…
SAUDI ARABIA: SABIC to buy 10% stake in petrochemicals producer for US$120 million
Posted on April 12, 2006 by EnergyAsia