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Saudi Aramco to acquire majority stake in Petro Rabigh for $702m

Acquisition, priced at $1.86 per share, increases Aramco’s stake to approximately 60% while reducing Sumitomo Chemical’s stake to 15%
Aramco said move is expected to improve Petro Rabigh’s balance sheet, cash liquidity, and profitability

By ARAB NEWS · 07 August 2024