Saudi Aramco looks to restructure SABIC deal: Reuters

Saudi Aramco looks to restructure SABIC deal: Reuters

Saudi Aramco is planning to restructure its deal to acquire a 70% stake in Saudi petrochemicals giant SABIC after seeing its value drop by more than 40% as oil prices have spiralled due to the coronavirus pandemic, Reuters reported.. The deal, announced in March 2019, was set at $69.1 billion, 123.39 riyals ($32.86) per share, but it is now trading at around 70 riyals per share.. The PIF could extend a $10 billion bridge loan signed with 10 banks in October, several sources told Reuters, linked to Aramco's SABIC deal..