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Sabic ... raising its stake in Ar-Razi to 75 per cent

Sabic ... raising its stake in Ar-Razi to 75 per cent

Sabic raises stake in Ar-Razi to 75pc, renews JSMC partnership

2018/12/06

DUBAI

Saudi Arabia's Sabic said it had signed an agreement with the Japan Saudi Arabia Methanol Company (JSMC), renewing its partnership in the Saudi Methanol Company (Ar-Razi) for another 20 years.
 
Under the agreement, Sabic will raise its stake in Ar-Razi to 75 per cent by purchasing half of JSMC's share, which represents 25 per cent of all Ar-Razi shares, reducing JSMC’s stake in Ar-Razi to 25 per cent, the company said in a statement.
 
Under the previous arrangement, Sabic had the right to buy the 50 per cent share held by JSMC in Ar-Razi on the agreement’s expiry on November 29. -- Reuters
 
 






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