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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Sahara Petrochemicals and Sipchem abandon merger talks

6:14 AM MDT | June 13, 2014 | —Natasha Alperowicz

Sahara Petrochemicals (Riyadh) and Saudi International Petrochemical Co. (Sipchem; Al Khubar, Saudi Arabia) have announced that they will not continue with merger talks. The announcement follows the companies’ signing of a memorandum of understanding (MOU) in December 2013 to begin due diligence that could have led to a possible merger. The Zamil Group, one of Saudi Arabia’s most prominent business families, holds shares in each company. “Although both companies are still convinced that the proposed merger is in the interest of their...

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