Saudi's PIF selects Goldman Sachs as adviser on SABIC sale: sources | Reuters:
Saudi Arabia’s Public Investment Fund (PIF) has selected Goldman Sachs & Co (GS.N) to advise on the sale of its stake in petrochemicals firm SABIC to state oil company Saudi Aramco, two sources familiar with the process told Reuters on Monday.
Citigroup Inc (C.N) won the mandate to advise SABIC on the transaction, the sources said.
Aramco plans to buy a controlling stake in Saudi Basic Industries Corp (SABIC) 2010.SE, possibly taking the entire 70 percent holding owned by PIF, the kingdom’s sovereign wealth fund.
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