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Saudi Aramco in talks to sell 1% stake to major energy company within two years​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​

SHARE Saudi Arabia is in talks to sell a 1 per cent stake in Saudi Aramco, the world s biggest exporting oil company, to a leading global energy company, the kingdom s crown prince said. The potential new stake sale in the oil giant to international investors may happen within the next one or two years, Saudi Crown Prince Mohammed bin Salman said in an interview broadcast on state TV on Tuesday. The stake sale could be worth about $18.9 billion, based on the company s current market capitalisation of 7.11 trillion riyals ($1.89tn). I don t want to make promises before deals are finalised, but there is a discussion now about an acquisition of 1 per cent by one of the leading energy companies globally and this will be a very important deal in cementing Aramco s sales in . a major country, he said.

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