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Sahara Petrochemical and Sipchem plan merger

11:16 AM MDT | June 4, 2013 | Natasha Alperowicz

Sahara Petrochemicals Co. (Riyadh) and Saudi International Petrochemical Co. (Sipchem; Al Khobar, Saudi Arabia), two major petrochemical companies listed on the Saudi Stock Exchange, said today that they have reached a mutual understanding to study a merger between the two companies. Sahara says the move follows a request at its latest board meeting, which took place on 2 June. Both companies will, in the next five months, undergo feasibility studies for the merger processes, including technical, financial, and regulatory studies. The studies will be...

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