Arab Today, arab today dow aramco possible equity of sadara
Last Updated : GMT 18:05:58
Arab Today, arab today
Arab Today, arab today

As they signed MoU

Dow, Aramco Possible Equity of Sadara

Arab Today, arab today

Arab Today, arab today Dow, Aramco Possible Equity of Sadara

Dow, Aramco Possible Equity of Sadara
Riyadh - Arabs Today

It might be difficult to put shares of Sadara Chemicals in a public offering after US company Dow Chemical signed an agreement with Saudi Aramco to boost its interest to 50 percent. Dow owns a 35 percent stake in Sadara Chemical and said it had signed the agreement of $20 billion joint venture with Aramco.
Sadara is Chemical Company of a joint venture developed by the two companies. The current equity ownership split is 65 percent Saudi Aramco and 35 percent Dow. If the potential transaction is concluded as presently proposed, Dow and Saudi Aramco would each hold a 50 percent equity stake in Sadara.
The announcement on Monday was a surprise especially after Sadara’s chief executive Ziad al-Labban made remarks earlier this year in which he said Saudi Aramco sought to cut its share in the venture.
Saudi Aramco currently owns 65 per cent of the company and they want to equalize it with Dow’s share of 35 per cent.
A statement gave no update on the listing of Sadara and did not disclose any financial terms.
Aramco was planning on selling its 30 percent share of Satorp refinery project with Total but after Sadara’s announcement on Monday seems that Aramco won’t go ahead with its plans to sell its joint ventures in the kingdom to Saudis.
Sadara said this month it had commissioned the last plant at its petrochemicals complex in Jubail, in eastern Saudi Arabia.
Also on Monday, Dow and Aramco announced a non-binding Memorandum of Understanding (MOU) that sets forth a process for Dow to acquire an additional 15 percent ownership interest from Saudi Aramco in Sadara.
The Sadara chemical complex, the largest of its kind ever built in a single phase, is currently operating all of its 26 world-scale units that manufacture a portfolio of valued-added performance plastics and specialty chemicals.
The complex produces more than three million metric tons of performance-focused products serving Packaging, Transportation, Infrastructure and Consumer markets, which will add new value chains to Saudi Arabia’s vast hydrocarbon reserves, resulting in the diversification of the economy and region.
Saudi Aramco President and CEO Amin Nasser said that Aramco is proud of the partnership with Dow given its preeminent stature among the world’s leading chemical companies.
“Dow’s larger stake in Sadara is an endorsement of the Kingdom’s vibrant ecosystem, and signals Dow’s confidence in our partnership as a model of mutually beneficial foreign direct investment. The time is right to fully leverage Dow’s global leadership to further contribute to the Kingdom’s economic transformation in line with Vision 2030,” Nasser added.
Dow’s chairman and CEO Andrew Liverisn announced that Sadara is the result of a game-changing partnership between Saudi Aramco and Dow by delivering market-driven solutions that support the diversification of the country’s economy.
“Increasing our equity stake in this iconic joint venture is a powerful example of our strategic partnership with Saudi Aramco and is yet another accelerator in Dow’s long-term growth strategy designed to capture growing consumer-led demand in our key end-markets of transportation, infrastructure, packaging, and consumer products in developing regions,” according to Liverisn.
The potential equity equalization would occur following the later of two events the intended separation of the Materials Science Company, within 18 months after the close of the merger of equals between Dow and DuPont on August 31.
It is also completed once Sadara completed the Creditors’ Reliability Test, which is part of the limited-recourse financing used to fund the Sadara project development.
The anticipated financial impact of the potential transaction is not being disclosed as there is no change in Sadara’s financial structure and governance.

 

arabstoday
arabstoday

GMT 14:39 2017 Tuesday ,19 September

Catherine proud for contract with Morocco

GMT 20:39 2017 Wednesday ,13 September

Al Shamri calls for supporting the Islamic

GMT 03:58 2017 Wednesday ,13 September

Saudi is ready to expand production cuts

GMT 09:43 2017 Sunday ,10 September

Workplace safety key concern

GMT 18:47 2017 Sunday ,03 September

Diplomat underlines importance of visit

GMT 17:39 2017 Saturday ,02 September

Minister underlines support for OPEC cut deal

GMT 19:47 2017 Friday ,01 September

MP blames government for performance

GMT 13:23 2017 Tuesday ,29 August

Tariq Qabil underlines challenges faced
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dow aramco possible equity of sadara Arab Today, arab today dow aramco possible equity of sadara

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dow aramco possible equity of sadara Arab Today, arab today dow aramco possible equity of sadara

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel sees benefits in independent Kurdistan

GMT 07:58 2017 Wednesday ,20 September

Israel sees benefits in independent Kurdistan
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today Designer produced new set of ornaments

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments
Arab Today, arab today Egypt tourism revival steady but slow

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow
Arab Today, arab today Egyptian artist presents new collection of designs

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs
Arab Today, arab today France opens door to post-2025 talks

GMT 05:16 2017 Wednesday ,20 September

France opens door to post-2025 talks
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Horia Farghaly happy for success of “Case G”

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 17:07 2017 Tuesday ,05 September

Jordanian woman depends on chocolate

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 14:44 2017 Monday ,29 May

Al-Jeddawi presents décor ideas for Ramadan

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 14:33 2017 Monday ,18 September

Cholera Cases Could Hit 850,000

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 21:57 2017 Sunday ,17 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday