Saudi state-led petrochemicals producer Sabic has announced a share purchase agreement with its Safco affiliate to consolidate its nitrogen fertilizers business and also a plan to liquidate three subsidiaries.

The moves are part of a shake-up of Sabic’s operations in the wake of Riyadh’s July 2018 announcement that state-led petroleum firm Aramco will buy the 70% stake in Sabic currently held by sovereign wealth fund PIF. (CONTINUED - 774 WORDS)