Exclusive: EU to clear without conditions US$69 billion Aramco, SABIC deal - sources

Exclusive: EU to clear without conditions US$69 billion Aramco, SABIC deal - sources

EU antitrust regulators are set to give unconditional clearance to world No. 1 oil producer Saudi Aramco's US$69 billion bid for a 70per cent stake in petrochemicals group Saudi Basic Industries Corp (SABIC) , people familiar with the matter said on Friday.

FILE PHOTO: Logo of Aramco is seen as security personnel stand before the start of a press conferen
FILE PHOTO: The logo of Aramco is seen as security personnel stand before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. REUTERS/Hamad I Mohammed/File Photo

BRUSSELS: EU antitrust regulators are set to give unconditional clearance to world No. 1 oil producer Saudi Aramco's US$69 billion bid for a 70per cent stake in petrochemicals group Saudi Basic Industries Corp (SABIC) , people familiar with the matter said on Friday.

Aramco announced the deal in March last year, a move key to its diversification into refining and petrochemicals.

(Reporting by Foo Yun Chee; editing by David Evans)

Source: Reuters

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