Riyadh — Saudi Aramco has negotiated more time to pay for a $69bn acquisition of Saudi Basic Industries Corporation (Sabic) as this year’s slump in oil prices stretches its finances.
Aramco announced new terms on Wednesday as it completed the purchase of a 70% stake in Sabic from Saudi Arabia’s sovereign wealth fund. Aramco will push back the bulk of instalments until after 2022 and delay the final one by three years until 2028...
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