September 27, 2019 / 12:31 PM / 3 months ago

India's antitrust body clears Saudi Aramco's acquisition of SABIC

Sept 27 (Reuters) - The Competition Commission of India (CCI) said here on Friday it approved Saudi Aramco's acquisition of a 70% stake in Saudi Basic Industries Corporation (SABIC).

An approval from India’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 the South Asian nation.

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. (Reporting by Nallur Sethuraman in Bengaluru and Nidhi Verma in New Delhi; editing by Uttaresh.V)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below