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Japan PM Adviser Says No Government Plan to Invest in Saudi Aramco

Source: Reuters 9/16/2016, Location: Middle East

Japan's government has no plan to invest in state-run oil firm Saudi Aramco's planned initial public offering, an adviser to Japanese Prime Minister Shinzo Abe said.

But Yasutoshi Nishimura said in an interview that Japan may jointly invest with Saudi Arabia's government in industrial ventures in the kingdom to help its drive to develop non-oil industries.

"Japan will not invest in Saudi Aramco. Rather, Japan will likely be cooperating in new industries...to reflect Saudi Arabia's intention to develop new and non-energy industries,"he told Reuters.

In April, Saudi Arabia launched radical economic reforms designed to develop non-oil industries to cut its reliance on oil exports and attract billions of dollars of foreign investment.

The centerpiece of the reforms is the sale of a stake in Saudi Aramco, which some sources said could be valued as high as $4 trillion.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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