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Aramco and Eastern Shenghong Sign Cooperation Framework Agreement

Saudi Aramco, one of the world’s leading integrated energy and chemicals companies, and Jiangsu Eastern Shenghong Co., Ltd. (“Eastern Shenghong”) signed on Wednesday a cooperation framework agreement to facilitate discussions relating to the possible acquisition by Aramco of a 10% strategic equity interest in Jiangsu Shenghong Petrochemical Industry Group Co., Ltd. (“Shenghong Petrochemical”), a wholly-owned subsidiary of Eastern Shenghong, subject to due diligence and required regulatory clearances. ....

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Aramco aims to take stake in Shenghong Petrochemical

Aramco, a leading integrated energy and chemicals company, and Jiangsu Eastern Shenghong have signed a deal to facilitate discussions relating to the possible acquisition by Aramco of a 10% strategic equity interest in Jiangsu Shenghong Petrochemical.
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