Middle East Economic Survey

VOL. XLIX

No 40

2-Oct-2006

SAUDI ARABIA

SABIC Acquires Huntsmans European Commodities Business For $700Mn

Saudi Basic Industries Corporation (SABIC) announced on 28 September it has signed an agreement to acquire 100% of Huntsmans European Base Chemicals and Polymers business for a purchase price of $700mn in cash. The acquisition of Huntsmans UK/European business is a major addition to the SABIC Europe group of companies and to SABICs business overall, said SABIC Vice...