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- SABIC completes sale of Alba shares to Maaden for $963m
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20/02/2025 07:38 AST
Saudi Basic Industries Corporation (SABIC) has announced the completion of the regulatory process to sell its 20.62% shareholding in Aluminum Bahrain (Alba) to the Saudi Arabian Mining Company (Ma'aden), with a financial consideration of BHD363,076,960 ($963.52 million).
The completion of the transaction enhances SABIC's position and reinforces its strategy to become the preferred world leader in chemicals by focusing on high performance, operational excellence, business sustainability, and on playing a leading role both in the petrochemical industry and relevant industries, the company said.
Abdulrahman Al-Fageeh, SABIC CEO, said: "With this transaction, we are in a better position to enhance our portfolio, focus on core businesses and strengthen our sustainable growth. It further enables us to optimize capital reallocation and invest in opportunities with higher margins, which improves total returns to shareholders and supports the successful realization of Saudi Vision 2030."
He added: "We greatly value our fruitful partnership with Alba, which has contributed significantly to the growth of SABIC's business over the years, a partnership that has driven the development of this sector, by contributing to the GDP and creating specialized manufacturing industries in this field."
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09/03/2018
Saudi Arabia will firmly support the UK as it embarks on Brexit, the chief of chemicals giant Sabic said on Thursday. Speaking at a gathering of CEO's from both countries in London, Sabic CEO Yousef
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30/01/2018
Sabic has posted a net profit of SR3.67 billion ($977 million) for the fourth quarter of 2017 compared to SR4.51 billion for the same quarter in 2016, reflecting a decrease of 18.63 per cent.
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28/01/2018
Saudi Basic Industries Corp (Sabic) bought a 25 per cent stake in Clariant, ending the Swiss speciality chemical group's fight with activist investors but raising further questions about its future.<
Times of Oman
| Ticker | Price | Change |
|---|---|---|
| MAADEN | 49.30 | 0.60 (1.23 |
| SABICAGRINUTRIENTS | 113.80 | 0.20 (0.17 |
| MARBLEDESIGN | 83.50 | 0.00 (0.00 |
| LIMEINDUSTRIES | 12.18 | 0.38 (3.22 |
| YANSAB | 37.40 | 0.45 (1.21 |
24/02/2025
Parkin will now have its own app through which drivers in Dubai can pay for using public parking spaces and also at spots coming under developers.
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Khaleej Times
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Vodafone Qatar has announced its participation in the upcoming Web Summit 2025, one of the world's premier technology conferences. The event will be held from February 23-26, 2025, at the DECC in Doh
The Peninsula
23/02/2025
QNB Group has been presented with an award by Mastercard for having the fastest growing commercial credit card portfolio in Qatar.
This accolade highlights QNB's prominent position in the fi
The Peninsula
23/02/2025
Doha Bank proudly announces its sponsorship as a Platinum Level Partner of the highly anticipated Web Summit Qatar 2025, set to take place from 23rd to 26thFebruary at the Doha Exhibition and Convent
The Peninsula
Financial Information Co.
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