Saudi International Petrochemical Co (Sipchem) has paid 375.3 mln riyals (US$100.1 mln) to raise its stake in two subsidiaries, as per Reuters. The firm will buy stakes owned by Kuwait's Ikarus Petroleum Industries in International Acetyl Company and International Vinyl Acetate Company after receiving regulatory approval, Sipchem said in a bourse statement. Sipchem, which already owns 76% of both subsidiaries, said the deals would raise its holdings in each to 87%. The financial impact of the purchases will be shown in the first quarter of 2016, it said in the statement.
08-Feb-16 
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