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Saudi Aramco buying $69 bn stake in chemicals giant SABIC

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Riyadh (AFP)

Saudi state oil giant Aramco said Wednesday it is buying a 70 percent stake in petrochemicals behemoth SABIC, in a deal state media said was worth around $69 billion.

"#Saudi_Aramco is acquiring a 70% stake in @SABIC, the Saudi Arabian Basic Industries Corporation," Aramco said on Twitter.

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