IHS Chemical Week

Regions :: Middle East

Sahara Petrochemical and Sipchem sign MOU for proposed merger

2:26 PM MST | December 4, 2013 | Natasha Alperowicz

Sahara Petrochemical Co. and Saudi International Petrochemical Co. (Sipchem) announced today that they have signed a memorandum of understanding (MOU) to begin "confirmatory due diligence" and continue nonbinding negotiations covering detailed terms of their previously announced merger. The MOU follows preliminary conclusions of studies and negotiations into the proposed merger, which indicate that, subject to agreeing certain key terms, the proposed merger will be a positive, transformational step in the business of the resultant company. Al-Zamil...

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