CCI approves the acquisition of 70% shareholding in Saudi Basic Industries Corporation (SABIC) by Saudi Arabian Oil Company (Saudi Aramco), under Section 31(1) of the Competition Act, 2002, today.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... CCI approves the acquisition of 70% shareholding in Saudi Basic Industries Corporation (SABIC) by Saudi Arabian Oil Company (Saudi Aramco), under Section 31(1) of the Competition Act, 2002, today. - N .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ews and Press Release Dated:- 27-9-2019 - News - The proposed transaction entails acquisition of 70% shareholding in SABIC, currently held by the Public Investment Fund of Saudi Arabia by Saudi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Aramco. Through this acquisition of shares, Saudi Aramco will acquire sole control over SABIC. Saudi Aramco is primarily engaged in the exploration, production and marketing of cr .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ude oil and natural gas. It is also active, to a lesser extent, in the production and marketing of refined products and petrochemicals. In India, Saudi Aramco is mainly active in the supply of crude o .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... il, liquefied petroleum gas, base oil and petrochemical products. SABIC is primarily active in the production and sale of commodity chemicals (including petrochemicals), .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... intermediates, polymers, fertilizers and to some extent metals. In India, SABIC is mainly active in the supply of agri-nutrient and petrochemical products. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Detailed order of the Commission will follow. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X