Talks are under way to sell Aramco stake, says Saudi Arabia’s crown prince
Crown Prince Mohammed bin Salman says Saudi Arabia is negotiating with a ‘leading global energy company’ for the sale
Saudi Arabia’s crown prince said the kingdom is in talks to sell a 1% stake in state oil giant Saudi Aramco to a “leading global energy company” as he forecast an economic rebound after the coronavirus pandemic.
The kingdom is looking at the potential sale — which could be worth about $19 billion, based on the company’s market value — as a way to lock in customer demand for the country’s crude, Crown Prince Mohammed Bin Salman said in a rare interview on a Saudi television channel late on Tuesday. While providing few details on which company is involved in the talks, he said the sale could take place in the next two years...
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