BRUSSELS: World No. 1 oil producer Saudi Aramco has gained unconditional EU antitrust approval for its US$69 billion bid for a 70per cent stake in petrochemicals group Saudi Basic Industries Corp (SABIC), according to an EU filing.
Aramco announced the deal in March last year, a move key to its diversification into refining and petrochemicals.
The European Commission cleared the deal on Thursday, a filing on its site showed. Reuters reported on Feb. 21 that the deal was heading for unconditional EU clearance.
(Reporting by Foo Yun Chee; editing by Francesco Guarascio)