US$ 120 million, representing the share, has been paid to Neste Oil. The appropriate amendment to the company's Articles of Incorporation was signed today.
Accordingly, as from June 1, 2006, SABIC owns 80% of IBN ZAHR capital. The Italian Fortium Company owns 10% and the Arab Petroleum Investments Corporation (APICORP) owns the remaining 10%.
SABIC originally announced the signing of this agreement on March 26, 2006.
Browse
related articles
SABIC completes operational procedures to increase its share to 80% in IBN ZAHR affiliate
- Saudi Arabia: Tuesday, July 04 - 2006 at 09:31
- PRESS RELEASE
Related content
SABIC today completed operational procedures to purchase the Finnish Neste Oil's 10% share of capital in SABIC affiliate, IBN ZAHR.
Article Options
Log in to request more information from SABIC
Posted by Lara Lynn Golden, News EditorTuesday, July 04 - 2006 at 09:31 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Sat Mar 10 2007.
Notes and Media Contacts »
Othman Al-Humaidi
General Manager, Corporate Communications
General Manager, Corporate Communications
Disclaimer »
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
