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Saudi PIF to create steel giant with $3 3 bln acquisition of Sabic s metal unit deal

Saudi PIF to create steel giant with $3 3 bln acquisition of Sabic s metal unit deal
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Saudi PIF to Create Steel Giant with $3 3 Billion Sabic Deal

(Bloomberg) Saudi Arabia’s sovereign wealth fund is set to create a new steel giant with the acquisition of the metals unit of chemicals maker Saudi Basic Industries Corp. for an enterprise value of 12.5 billion riyals ($3.3 billion).Most Read from BloombergTesla’s $41,000 Model X Discount Unlocks Subsidies Musk Wanted GoneCovid Is Back. Is It Time to Pull Out Our Masks Again?BMW Unwraps Next-Generation EV to Take on Tesla, China’s BYDJimmy Buffett, Singer Who Spun Margaritas Into Gold, Dies

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