Redcliffe Partners advised SABIC on obtaining merger clearance in Ukraine for the largest ever M&A deal in the Middle East

24 July 2020

Redcliffe Partners has advised Saudi Basic Industries Corporation (SABIC) on obtaining merger clearance from the Ukrainian competition authority for the sale of 70% of the shares to Saudi Arabian Oil Company (Saudi Aramco), for a total purchase price of USD 69.1 billion. The seller of the shares was the Public Investment Fund of Saudi Arabia (PIF), the sovereign wealth fund of the Kingdom of Saudi Arabia.

This transaction is the largest ever M&A deal in the Kingdom of Saudi Arabia and the Middle East by deal value.

Redcliffe Partners’ team working on the transaction consisted of partner Anastasia Usova, senior associate Nataliya Kovalyova and associate Tetyana Smurova.

SABIC is a global leader in diversified chemicals headquartered in Riyadh, Saudi Arabia. It manufactures on a global scale in the Americas, Europe, Middle East and Asia Pacific, making distinctly different kinds of products: chemicals, commodity and high performance plastics, agri-nutrients and metals. The company has operations in over 50 countries with a global workforce of over 33,000 employees.

Saudi Aramco is a leading producer of energy and chemicals. Saudi Aramco is represented in the three major global energy markets of Asia, Europe and North America, with more than 70,000 workers worldwide.