Saudi Aramco Gets EU’s Unconditional Approval for $69 bln SABIC Deal

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Saudi Arabian Oil Co.. the world’s largest oil producer. obtained an unconditional EU antitrust approval for its $69 billion bid for a 70% stake in petrochemicals group. Saudi Basic Industries Corp.. according to an EU filing.

In March 2019. Aramco announced the deal in a key move towards its diversification into refining and petrochemicals.

The European Commission cleared the deal on Thursday. a filing on its site indicated. Reuters reported on Feb. 21 that the deal was heading for unconditional EU clearance.