Saudi Arabia's SIIG and Petrochem in merger talks

Saudi Arabian petrochemical companies Saudi Industrial Investment Group (SIIG) and the National Petrochemical Company (Petrochem) said on Sunday they were in merger talks.

DUBAI, Sept 20 (Reuters) - Saudi Arabian petrochemical companies Saudi Industrial Investment Group (SIIG) 2250.SE and the National Petrochemical Company (Petrochem) 2002.SE said on Sunday they were in merger talks.

The boards of both companies have approved initial discussions to study the feasibility of a merger but no agreement has been reached on a final structure of a merged entity, the companies said in separate statements.

SIIG owns 50% of Petrochem.

(Writing by Alexander Cornwell; Editing by David Clarke)

((Alexander.Cornwell@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More