Aramco Announces Sabic Deal

Possibly: 

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2 hours ago, Marina Schwarz said:

Saudi Aramco reaches $69.1 billion deal to buy majority stake in petrochemicals firm Sabic

Yet not a word on how they'll finance the deal, no word on that bond they were preparing for that precise purpose... What happened, they struck gold in the desert?

It's coming out of their Soverign Wealth Fund

 

https://www.worldoil.com/news/2019/3/27/saudi-aramco-to-purchase-sabic-stake-for-69-billion-in-mena-record-breaking-deal

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(edited)

Um, no. Aramco is buying the stake from the sovereign wealth fund. While this is the financial equivalent of someone moving a candy from their left pocket into their right, the PIF is the seller. And Aramco spoke about the international bond on more than one occasion with the latest being it was almost a done deal. So I wonder where is the money from the bond and why did we not hear about it.

@Tom Kirkman whyever did I not think of that!

Update: They started talking about the bond: https://www.wsj.com/articles/aramco-plans-10-billion-bond-next-week-opening-books-for-first-time-11553761555

Edited by Marina Schwarz
update of info
  • Great Response! 1

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2 hours ago, Marina Schwarz said:

Um, no. Aramco is buying the stake from the sovereign wealth fund. While this is the financial equivalent of someone moving a candy from their left pocket into their right, the PIF is the seller. And Aramco spoke about the international bond on more than one occasion with the latest being it was almost a done deal. So I wonder where is the money from the bond and why did we not hear about it.

@Tom Kirkman whyever did I not think of that!

Update: They started talking about the bondhttps://www.wsj.com/articles/aramco-plans-10-billion-bond-next-week-opening-books-for-first-time-11553761555

Bullwinkle: "Hey Rocky, watch me pull a rabbit out of my hat."

Rocky: "Again?"

NothingUpMySleeve-JWS-00170.jpg

bullwinkle_magic-hat.jpg

 

Or if you prefer the original shorts:

https://youtu.be/kx3sOqW5zj4

 

  • Haha 2

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Buying Sabic will help the pump and dump for their stock market. Sabic is a multi-headed hydra. And it gets a lot of below market feedstock from Aramco. Yes, really, they are buying from themselves. Maybe that's how ARAMCO goes public, sells all the shares to themselves and tells the world they met and exceeded the $2 trillion market cap.

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