The Dow Chemical Company (DOW) and Saudi Aramco have signed a non-binding memorandum of understanding (MOU), where Dow plans to acquire an additional 15 percent stake in Sadara Chemical Company(Sadara) from its JV partner Saudi Aramco.
Saudi Aramco and Dow currently holds 65 percent and 35 percent respectively. If the potential transaction is concluded Dow and Saudi Aramco would each hold a 50 percent equity stake in Sadara.
“Increasing our equity stake in this iconic joint venture is a powerful example of our strategic partnership with Saudi Aramco and is yet another accelerator in Dow’s long-term growth strategy designed to capture growing consumer-led demand in our key end-markets of transportation, infrastructure, packaging, and consumer products in developing regions,” said Andrew Liveris, Dow’s chairman and CEO.
The Dow Chemical Company (DOW) and Saudi Aramco have signed a non-binding memorandum of understanding (MOU), where Dow plans to acquire an additional 15 percent stake in Sadara Chemical Company(Sadara) from its JV partner Saudi Aramco.
Saudi Aramco and Dow currently holds 65 percent and 35 percent respectively. If the potential transaction is concluded Dow and Saudi Aramco would each hold a 50 percent equity stake in Sadara.
“Increasing our equity stake in this iconic joint venture is a powerful example of our strategic partnership with Saudi Aramco and is yet another accelerator in Dow’s long-term growth strategy designed to capture growing consumer-led demand in our key end-markets of transportation, infrastructure, packaging, and consumer products in developing regions,” said Andrew Liveris, Dow’s chairman and CEO.
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