Saudi's SABIC raises stake in Ar-Razi to 75%
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Saudi’s SABIC raises stake in Ar-Razi to 75%

Saudi’s SABIC raises stake in Ar-Razi to 75%

Under the previous arrangement, SABIC had the right to buy the 50 per cent share held by JSMC

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Saudi Arabia’s SABIC said on Wednesday it had signed an agreement with the Japan Saudi Arabia Methanol Company (JSMC), renewing its partnership in the Saudi Methanol Company (Ar-Razi) for another 20 years.

Under the agreement, SABIC will raise its stake in Ar-Razi to 75 per cent by purchasing half of JSMC’s share, which represents 25 per cent of all Ar-Razi shares, reducing JSMC’s stake in Ar-Razi to 25 per cent, the company said in a statement.

Read: Saudi’s SABIC Q3 net profit up 5.4% on higher selling price

Under the previous arrangement, SABIC had the right to buy the 50 per cent share held by JSMC in Ar-Razi on the agreement’s expiry on November 29.


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