Deals
Saudi Aramco Weighs Staggering Payments for Sabic Deal
- Oil giant also weighing if $69.1 billion price can be reduced
- Company is seeking to preserve cash after crude’s collapse
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Saudi Aramco is in early talks about further staggering payments for a controlling stake in local petrochemical giant Saudi Basic Industries Corp. as the collapse in oil prices hammers its finances and causes the government to slash spending.
State-owned Aramco is weighing pushing out payments for the 70% holding in the petrochemicals maker and reducing the size of the initial installment to the Saudi Arabian sovereign wealth fund, known as the Public Investment Fund, according to people with knowledge of the matter.