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Saudi Aramco's acquisition of 70 percent stake in SABIC wins Philippine antitrust clearance

( July 8, 2019, 08:18 GMT | Official Statement) -- MLex Summary: The Saudi Arabian Oil Company, or Saudi Aramco, has received Philippine antitrust clearance to acquire a 70 percent stake in chemical and industrial polymer manufacturer Saudi Basic Industries Corp, or SABIC. The Philippine Competition Commission said the companies’ had a limited presence in the Philippines, and that there would continue to be competitive constraints by other market participants in the local market for different types of polymers.The commission's statement follows:...

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