DUBAI: Saudi Aramco is looking to restructure its deal to acquire a controlling stake in petrochemicals maker SABIC after a more than 40% drop in SABIC's value following a slump in oil prices in coronavirus pandemic, two sources told Reuters.
Aramco last year agreed to buy a 70% stake in Saudi Basic Industries Corp (SABIC) from the Public Investment Fund (PIF), the kingdom's wealth fund, for $69.1 billion, in one of the biggest deals in the global chemical industry.
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