Saudi International Petrochemical Company (Sipchem) announces relating to the plan to resumption of discussions with Sahara Petrochemicals Company (Sahara) in relation to their potential merger
Tuesday, March 13, 2018
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Further to the announcement made by the Company on 10/08/1435H corresponding to (08/06/2014G) regarding postponing commercial negotiations with Sahara and stopping the exchange of information in relation to the proposed business merger between the two companies (the Proposed Merger) because implementing the Proposed Merger through a structure acceptable to both companies and available under the regulatory framework at that time was difficult.
The Company announces that it is planning to resume discussions with Sahara in relation to the Proposed Merger on the back of the recent changes in the regulatory framework.
The Company will make further announcements on relevant developments at the appropriate timing in this regard.
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