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Saudi Aramco to buy $69 billion Sabic stake in biggest ever Middle East deal
Saudi Aramco will buy a majority stake in Saudi Basic Industries Corp. from the kingdom’s sovereign wealth fund as the world’s biggest oil firm turns its attention to petrochemicals. The deal, first mooted last year, values the Public Investment Fund’s 70 per cent stake at US$69.1 billion, or 123.4 riyals…
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