SAUDI ARABIA

Saudi Aramco Set For Shopping Spree With $10Bn Wallet

Saudi Aramco, which recently created a mergers and acquisitions division, has secured a $10bn standby credit facility with a consortium of international and local banks. With low oil prices pushing down the asset values of potential acquisitions, Aramco is taking advantage of cheap borrowing and its sound credit rating to build up a war chest, that would allow it to move swiftly to snap up opportunities as and when they...