Saudi's SAFCO seeks banks for role in acquisition of SABIC stakes in agri-nutrients businesses | ZAWYA MENA Edition:
Saudi Arabia Fertilizers Co (SAFCO) has invited banks to pitch for an advisory role in its potential acquisition of stakes in five agri-nutrients businesses now held by Saudi Basic Industries Corp (SABIC), two sources told Reuters.
SAFCO wants to buy SABIC's stakes in Al-Jubail Fertilizer Company (Al-Bayroni), National Fertilizer Company (Ibn al-Baytar), Gulf Petrochemicals Industries Company, Ma'aden Phosphate Company, and Ma'aden Wa'ad al Shamal Phosphate Company, said the sources, who declined to be named due to commercial sensitivities.
SABIC owns 43 percent in SAFCO. Neither company responded to requests for comment.
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