SABIC denies bid intent for Braskem stake

21/02/2024 Argaam
Logo ofSaudi Basic Industries Corp. (SABIC)

Logo of Saudi Basic Industries Corp. (SABIC)

Saudi Basic Industries Corp. (SABIC) denied plans to bid bid to acquire a stake in the Brazilian petrochemical company Braskem.

 

The company clarified in a statement today, Feb. 21, shared with Argaam, that media reports based on Brazilian newspaper Valor about the deal are incorrect.

 

SABIC emphasized its commitment to transparency regarding investment opportunities and the importance of using official channels for accurate information.

 

Brazil's Valor newspaper reported today that SABIC aims to acquire a stake in Braskem.

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