Complex Made Simple

Sipchem, Sahara put merger plans on hold

Saudi International Petrochemical Co (Sipchem) and Sahara Petrochemicals Co have said they put on hold a planned merger that would have created a Saudi Arabian chemicals company with about $5.8bn in market value, Bloomberg has reported. The two firms said it would be difficult to proceed with the merger using a structure that was acceptable to both sides under the current regulatory framework. They said they wanted to “continue to exist whilst achieving operational integration,” adding that it’s possible to revive the talks in the future.