Saudi GAC approves SAFCO’s acquisition of SABIC’s unit – ZAWYA

Saudi GAC approves SAFCO’s acquisition of SABIC’s unit – ZAWYA

Saudi GAC approves SAFCO's acquisition of SABIC's unit. The acquisition will be paid through the issuance of 59.368mln new shares. The acquisition will be paid through the issuance of 59.368 million new shares for SABIC in SAFCO, valued at SAR 77.35 per share.. SABIC Agri-Nutrients Investment Company (SANIC) owns 50% of both National Chemical Fertilisers Company (Ibn Al Baytar) and Al Jubail Fertilizer Company (Al Bayroni), as well as 33.33% stake in Gulf Petrochemical Industries Company (GPIC)..