Saudi Aramco to purchase Sabic stake for $69 Billion in MENA record-breaking deal

In the Middle East's record-setting deal, the world's biggest oil producer, Saudi Aramco, will buy a majority stake in local chemical giant Sabic from the kingdom’s sovereign wealth fund for $69.1 billion, transferring a big slug of cash from one arm of the state to another to help finance Crown Prince Mohammed bin Salman’s economic agenda. More »