Saudi Arabia’s Sahara Petrochemical and Saudi International Petrochemical Co. (Sipchem) have begun initial talks on a potential merger, as per Reuters. The Zamil Holding Company Group, one of the Kingdom’s most prominent family businesses, is a major shareholder in both companies. A feasibility study will be carried out by the two companies over the next five months, with the plan then put to shareholders and the regulator for approval. No value for the potential merger was given.
Zamil, which has interests in petrochemicals, steel, housing, construction and other industrial sectors, owns 7.9% of Sahara and 9.6% of Sipchem. The government pension fund also has holdings of more than 5% in both companies.
05-Jun-13 
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