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Business

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

SIIG of Saudi Arabia to buy all shares of Petrochem

As part of the buyout, SIIG will issue 304,800,000 ordinary shares with a nominal value of SR10 ($2.6) each.
By TRENDS Desk
April 11, 2022 8:10 pm
  • SIIG will now fully own Petrochem and as a result the latter will be suspended from trading on the Saudi Stock Exchange beginning Monday
  • The acquisition transpired as Saudi Arabian energy companies are restructuring their operations in response to a market that has lost some of its demand

SIIG, also known as Saudi Industrial Investment Group, has obtained the approval to buy all shares of Petrochem.

SIIG will now fully own Petrochem and as a result the latter will be suspended from trading on the Saudi Stock Exchange beginning Monday, according to a bourse filing.

As part of the buyout, SIIG will issue 304,800,000 ordinary shares with a nominal value of SR10 ($2.6) each.

The acquisition transpired as Saudi Arabian energy companies are restructuring their operations in response to a market that has lost some of its demand.

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INSEAD Day 4- 300x600
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