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updated 10:20 AM UTC, Dec 13, 2023

Royal Dutch Shell Completes SADAF Chemicals Sale To SABIC For $820mn

Unic Press UKRoyal Dutch Shell said it has concluded the sale of its 50% share in SADAF – The Saudi Petrochemical Company – to petrochemicals manufacturers SABIC for $820 million.

This sale that was publicized since January 2017 is now consummated after “anti-trust filings in the relevant countries and regulatory approval from the Kingdom of Saudi Arabia”, Shell announced in a press release Wednesday, the 16th August 2017.

It is predicted that this acquisition will enable SABIC to optimise its operations, and offer much more latitude to Royal Dutch Shell to focus on downstream activities and make selective investments in global chemicals business.

About SADAF

SADAF, petrochemicals manufacturer, was founded in June 1980 as a Joint Venture between Saudi Basic Industries Corporation and Pecten Arabian Company Ltd., a subsidiary of Shell Oil Company (US). Hitherto, Shell’s 50% share was held by Shell Chemicals Arabia, LLC an affiliate of Royal Dutch Shell.

About SABIC

SABIC, a public company based in Riyadh, Saudi Arabia, is controlled by the Saudi Arabian government that owns 70% of the Company’s shares. SABIC has operations in over 50 countries.

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