Aramco secures unconditional EU okay for $69 B SABIC deal

World No. 1 oil producer Saudi Aramco has gained unconditional EU antitrust approval for its $69 billion bid for a 70% stake in petrochemicals group Saudi Basic Industries Corp., according to an EU filing.

Aramco announced the deal in March last year, a move key to its diversification into refining and petrochemicals. 

The European Commission cleared the deal on Thursday, a filing on its site showed. Reuters reported on Feb. 21 that the deal was heading for unconditional EU clearance. (Reporting by Foo Yun Chee; editing by Francesco Guarascio)

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