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Burgeoning Saudi Firm Snags GE Plastics

$11.6B deal is Gulf region's biggest ever

By J. Kelman, Newser User

Posted May 21, 2007 1:29 PM CDT

(Newser) – A Saudi chemical company will take over General Electric's plastics division in a deal worth $11.6 billion, the companies said today. Saudi Basic Industries Corp., or Sabic, beat out Dutch-owned Basell for GE Plastics, which was put up for sale in January. The purchase,... Read full story »

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Burgeoning Saudi Firm Snags GE Plastics

$11.6B deal is Gulf region's biggest ever

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Saudi Arabia • plastic • takeovers • Saudi Basic Industries Corp. • General Electric • merger • acquisition • Sabic • Basell • GE Plastics

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