The Saudi Basic Industries Corporation (SABIC) announced today the signing of two strategic transactions to divest its European petrochemicals business to AEQUITA, and its engineering thermoplastics business in the Americas and Europe to Mutares SE & Co. KGaA, for a total value of $950 million.
The two transactions come as part of SABIC’s fundamental steps to advance its corporate strategy and represent key elements of its comprehensive portfolio optimization program. This move establishes a strong foundation to enhance future profitability and further boost the company’s strategic positioning to achieve higher value creation.
These efforts extend SABIC’s plans to improve returns, focus on high-margin markets and products with strong competitive advantages, and deploy capital into higher-return opportunities while improving free cash flow. The transactions will not affect SABIC’s continued focus on technology and innovation, nor its commitments to customers worldwide, and are aimed at maximizing value for customers.
