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MarketScreener Homepage  >  Equities  >  Saudi Arabian Stock Exchange  >  Saudi Basic Industries Corporation    2010   SA0007879121

SAUDI BASIC INDUSTRIES CORPORATION

(2010)
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Exclusive: Aramco to win unconditional EU clearance for $69 billion SABIC deal - sources

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02/21/2020 | 12:30pm EDT
FILE PHOTO: An employee in a Saudi Aramco branded helmet

World No. 1 oil producer Saudi Aramco is set to gain unconditional EU antitrust approval for its $69 billion buy of a 70% stake in petrochemicals group Saudi Basic Industries Corp (SABIC), people familiar with the matter said on Friday.

Aramco announced the deal to acquire the controlling stake from sovereign investor Public Investment Fund (PIF) in March last year, a move key to its diversification into refining and petrochemicals.

Riyadh-headquartered SABIC, the world's fourth largest petrochemicals group, has operations in over 50 countries.

The European Commission, which is scheduled to decide on the case by Feb. 27, declined to comment.

Competition watchdogs in India and a number of other countries have already given the green light without demanding concessions.

Aramco's downstream expansion strategy tracks rivals such as Exxon Mobil, BP, Total and Shell, which have over the years transformed themselves from merely oil companies to energy companies with extensive upstream and downstream operations.

By Foo Yun Chee

Stocks mentioned in the article
ChangeLast1st jan.
BP PLC -4.54% 337.3 Delayed Quote.-28.48%
EXXON MOBIL CORPORATION -2.95% 39.21 Delayed Quote.-43.81%
LONDON BRENT OIL 17.55% 34.89 Delayed Quote.-65.55%
SAUDI ARABIAN OIL COMPANY 0.67% 30.15 End-of-day quote.0.84%
SAUDI BASIC INDUSTRIES CORPORATION 1.60% 70 End-of-day quote.1.45%
TOTAL -7.58% 33.53 Real-time Quote.-31.85%
WTI 16.65% 28.79 Delayed Quote.-66.58%
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Financials (SAR)
Sales 2020 125 B
EBIT 2020 14 466 M
Net income 2020 10 581 M
Finance 2020 151 M
Yield 2020 5,39%
P/E ratio 2020 38,4x
P/E ratio 2021 19,5x
EV / Sales2020 1,83x
EV / Sales2021 1,64x
Capitalization 228 B
Chart SAUDI BASIC INDUSTRIES COR
Duration : Period :
Saudi Basic Industries Cor Technical Analysis Chart | 2010 | SA0007879121 | MarketScreener
Technical analysis trends SAUDI BASIC INDUSTRIES COR
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 10
Average target price 86,02  SAR
Last Close Price 76,00  SAR
Spread / Highest target 29,6%
Spread / Average Target 13,2%
Spread / Lowest Target -28,9%
EPS Revisions
Managers
NameTitle
Yousef bin Abdullah Al-Benyan Vice Chairman & Chief Executive Officer
Abdulaziz bin Saleh M. Al-Jarbou Chairman
Timothy D. Leveille Executive Vice President-Corporate Finance
Fahad Al-Sherehy Executive Vice President-Technology & Innovation
Abdullah Mohammed bin Ibrahim Al-Issa Non-Executive Director
Sector and Competitors