Reuters exclusively reports Aramco to win unconditional EU clearance for $69 billion SABIC deal

Reuters exclusively reported that world No. 1 oil producer Saudi Aramco is set to gain unconditional EU antitrust approval for its $69 billion buy of a 70% stake in petrochemicals group Saudi Basic Industries Corp (SABIC). Aramco announced the deal to acquire the controlling stake from sovereign investor Public Investment Fund (PIF) in March last year, a move key to its diversification into refining and petrochemicals.