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CADE approves Saudi Aramco’s purchase of majority stake in S-Oil

( November 4, 2014, 10:31 GMT | Official Statement) -- MLex Summary: Brazil’s antitrust authority has unconditionally approved plans by Saudi Arabian Oil Company, or Saudi Aramco, to purchase Hanjin Group’s entire 28.4 percent stake in S-Oil. The deal, worth approximately $1.95 billion, will be completed though Saudi Aramco’s subsidiary Aramco Overseas Company, or AOC. Saudi Aramco’s stake in S-Oil will rise to 63.4 percent. AOC originally bought a 34.99 percent stake in S-Oil in 1999. S-Oil trades its shares in Korea.Read the OJ statement below:...

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