Saudi Aramco on 1 March announced via the Tadawul stock exchange that the European Commission, the EU’s executive branch, has cleared its planned $69.1bn purchase of 70% of the shares in petrochemicals giant Sabic from Riyadh’s sovereign wealth fund PIF.

“The proposed acquisition has now received unconditional clearance in all jurisdictions in which pre-notification antitrust filings are required,” Aramco said. “The closing of the proposed transaction is subject to the remaining customary closing conditions contained in the share purchase agreement.” (CONTINUED - 386 WORDS)