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Thursday, August 17, 2017 23:17 GMT
Saudi Basic Industries Corp (SABIC) has completed the purchase of the 50% that it did not already own in its petrochemical venture with Shell Arabia, a unit of Royal Dutch Shell, for US$820 million, SABIC said on Wednesday. The financial impact of the transaction will be reflected on its third-quarter results, SABIC added. The acquisition which SABIC had said would be carried out before the end of the year is in line with a strategy to develop its successful investments. "This step will allow...More