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Regions :: Middle East :: Saudi Arabia
Sipchem and Sahara sign framework agreement to progress merger talks
2:37 PM MDT | July 30, 2013 | Natasha Alperowicz
Saudi International Petrochemical Co. (Sipchem; Al Khubar) and Sahara Petrochemicals (Riyadh) say that they have today entered into a non-binding framework agreement, which sets out the process for the 2 companies to progress discussions and negotiations for a possible merger. The companies announced on 4 June 2013 that they are studying the feasibility of a possible merger. The framework agreement expires on 31 January 2014 and the expected timetable for assessing the feasibility of the merger remains approximately 5 months from the first announcement. ...
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