Saudi Arabia's SIIG and Petrochem 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.

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