Riyadh-Mubasher: Saudi Arabian Fertilizer Co. (SAFCO) plans to conduct a feasibility study to purchase Saudi Basic Industries Corp.’s (SABIC) 50% stake in National Chemical Fertilizer Co. (Ibn Al-Baytar).
The potential merge will help the company study new investment opportunities and fulfill its strategic goals.
The study does not have a negative impact on the company’s financial position or business activities, SAFCO said.
Ibn Al-Baytar, which is equally owned by SAFCO and SABIC, is a limited liability company established in 1985 with SAR 494.7 million ($131.9 million capital) capital.
