VOL. XXX

NO. 16

26-JANUARY-1987

SAUDI ARABIA

NIC Acquires 10% Stake in Ibn Hayyan

The National Industrialization Company (NIC) has finalized the acquisition ofa 10% stake in the National Plastic Company (Ibn Hayyan) worth SR43.8mn($11.7mn), according to Dr. Mahsun Jalal, NIC's chairman. Under a privatizationscheme disclosed in November (MEES, 17 November 1986), the Saudi BasicIndustries Corporation (SABIC), which originally had a 85% stake in Ibn Hayyanwith the Lucky Group of South Korea holding...