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Mergers and Acquisitions News in Saudi Arabia

Air Products Confirms It is in Final Negotiations to Form $11.5 Billion Joint Venture
10/29/2019 - Air Products (APD) confirmed that it is in final negotiations to form a joint venture with Saudi Aramco, ACWA Power and Air Products Qudra to acquire the gasification, power and industrial gas assets ...
Aramco & Reliance Industries Sign Non-Binding Letter of Intent
8/12/2019 - Saudi Aramco and Reliance Industries Limited (RIL) have agreed to a non-binding Letter of Intent (“LOI”) regarding a proposed investment in the Oil to Chemicals (O2C) division comprising the Refining,...
Dussur, Aramco & Hyundai Heavy Industries Launch Marine Engine Manufacturing And Supply JV
7/9/2019 - The Saudi Arabian Industrial Investments Company (Dussur), Saudi Aramco, and Hyundai Heavy Industries (HHI) have signed a joint venture to manufacture 2-stroke and 4-stroke marine and Electric Power P...
Aramco & Baker Hughes Sign MOU for Non-Metallic Materials Production Facility in SA
Aramco & Baker Hughes Sign MOU for Non-Metallic Materials Production Facility in SA 7/1/2019 - Saudi Aramco and Baker Hughes, a GE company (BHGE) signed a memorandum of understanding to create a new joint venture facility in Saudi Arabia to manufacture non-metallic materials which will be used...
International Maritime Industries Signs MOU with HHI & Bahri
6/26/2019 - International Maritime Industries (IMI) announced today they had signed a Memorandum of Understanding (MOU) with long-term partners Hyundai Heavy Industries, Co., Ltd. (HHI) and Bahri, a global leader...
Aramco to Acquire Shell’s Share of the Sasref Refining Joint Venture
Aramco to Acquire Shell’s Share of the Sasref Refining Joint Venture 4/21/2019 - The Saudi Arabian Oil Company (Saudi Aramco) is to acquire Shell Saudi Arabia Refining Limited’s (Shell) 50% share of the SASREF joint venture in Jubail Industrial City, in the Kingdom of Saudi Arabia...
Aramco to Acquire Stake in South Korean Hyundai Oilbank
Aramco to Acquire Stake in South Korean Hyundai Oilbank 4/15/2019 - The Saudi Arabian Oil Company (Saudi Aramco) and Hyundai Heavy Industries Holdings today announced that they have reached an agreement for Saudi Aramco’s subsidiary, Aramco Overseas Company B.V (AOC)...
Aramco Signs Share Purchase Agreement to Acquire 70% Majority Stake in SABIC
3/27/2019 - Saudi Aramco has announced the signing of a share purchase agreement to acquire a 70% majority stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund of Saudi Arabia, in a...
Ensco Receives Clearance from the General Authority for Competition in Saudi Arabia
3/27/2019 - Ensco plc has received clearance from the General Authority for Competition in the Kingdom of Saudi Arabia for its pending combination with Rowan Companies plc. ...
Aramco Completes Acquisition of Remaining 50% Stake in ARLANXEO JV from LANXESS
12/31/2018 - Saudi Aramco, a world-leading integrated energy and chemicals company; and LANXESS AG, a leading German specialty chemicals company, announced the completion of Saudi Aramco’s acquisition of LANXESS‘s...
Saudi Aramco and Raytheon Sign MOU to Establish JV in Cybersecurity
12/14/2018 - Saudi Aramco and Raytheon Company, through its subsidiary Raytheon Saudi Arabia, signed a Memorandum of Understanding to establish a joint venture company that will develop and provide best-in-class c...
SABIC Announces Latest Updates on Its Acquisition of Shares in Swiss Clariant AG
9/11/2018 - With reference to the announcement made by SABIC on Tadawul on January 25, 2018 regarding the acquisition of a 24.99% equity interest in Swiss Clariant AG, SABIC would like to announce that all regula...
Aramco, Air Products, and ACWA Power to Form $8B Gasification/Power JV
8/12/2018 - Saudi Aramco, Air Products, and ACWA Power announced the signing of a Term Sheet to form a Gasification/Power joint venture (JV) located at Jazan Economic City (JEC) in Saudi Arabia. ...
Saudi Aramco Aims to Buy Controlling Stake in SABIC
7/23/2018 - Saudi Aramco aims to buy a controlling stake in petrochemical maker SABIC, possibly taking the entire 70 percent stake owned by Saudi Arabia’s sovereign wealth fund, two sources familiar with the matt...
Saudi's Sipchem, Sahara Petrochemical to Resume Merger Talks
3/13/2018 - Saudi International Petrochemical Co 2310.SE (Sipchem) was planning to resume proposed merger talks with Sahara Petrochemical 2260.SE in a deal that could create a 14.7 billion riyals ($3.9 bln) chemi...
Saudi Aramco Launches International Maritime Industries Joint Venture
12/30/2017 - Saudi Aramco and its partners; Lamprell Plc, the National Shipping Company of Saudi Arabia (“Bahri”); and Hyundai Heavy Industries Co. Ltd. (HHI), announced the official launch of their International ...
Saudi Aramco Contractor Arkad Forms Oil, Gas Venture With ABB
11/6/2017 - Swiss engineering conglomerate ABB is putting its turnkey projects arm for the oil and gas industry into a joint venture majority owned by Saudi Arabia’s Arkad Engineering & Construction, as ABB seeks...
Rowan, Saudi Aramco Launch ARO Drilling
10/19/2017 - Rowan Companies plc announced that ARO Drilling, a 50/50 joint venture with the Saudi Arabian Oil Company ("Saudi Aramco"), commenced operations on October 17, 2017.
Dow to Acquire 15% More Stake in Sadara from Saudi Aramco
8/28/2017 - The Dow Chemical Company and the Saudi Arabian Oil Company (Saudi Aramco) announced a non-binding Memorandum of Understanding (MOU) that sets forth a process for Dow to acquire an additional 15 percen...
Saudi Arabia to Allow Full Foreign Ownership of Engineering Firms
8/8/2017 - Saudi Arabia will allow foreign companies to own engineering services companies in full, without requiring them to partner with a Saudi-owned firm, the cabinet announced. ...

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