Aramco Is Still Considering a Range of Options for Sabic

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Saudi Aramco is still considering a range of options to finance the acquisition of a controlling stake in the country’s largest chemical company, according to people familiar with the matter. Aramco, the world’s largest oil producer, is undertaking due diligence on the deal -- likely to be Saudi Arabia’s biggest ever at up to $70 billion -- and will decide on a financial structure next year, the people said, asking not to be identified discussing private deliberations.  familiar with the matter. Aramco, the world’s largest oil producer, is undertaking due diligence on the deal -- likely to be Saudi Arabia’s biggest ever at up to $70 billion -- and will decide on a financial structure next year, the people said, asking not to be identified discussing private deliberations. The Wall Street Journal reported on Monday that Aramco had abandoned the idea of raising a record-breaking bond to pay for the Sabic stake. Instead, the company could use a combination of syndicated loans and bonds raised on Sabic’s balance sheet, the newspaper reported. One other option under consideration: staggering payments over a period of time, it said. Aramco declined to immediately comment on the Wall Street Journal story.

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August, 22:

"The Government remains committed to the IPO of Saudi Aramco at a time of its own choosing when conditions are optimum. This timing will depend on multiple factors, including favorable market conditions, and a downstream acquisition."

Down stream being Sabic....