Dutch chemicals firm LyondellBasell (LYB) has agreed to take a 35% stake in National Petrochemical Industrial Company (Natpet), a private-sector petrochemicals firm in Saudi Arabia. LYB will acquire the stake from Natpet’s majority shareholder, Saudi petrochemicals firm Alujain which currently holds a 98.7% stake in the firm.
Alujain says that the transaction value is SR1.87bn ($499mn), valuing Natpet at SR5.34bn ($1.42bn). (CONTINUED - 799 WORDS)
