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Redcliffe Helps SABIC Obtain Ukrainian Merger Clearance for Sale of Shares to Saudi AramCo

Redcliffe Helps SABIC Obtain Ukrainian Merger Clearance for Sale of Shares to Saudi AramCo

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Redcliffe Partners has helped Saudi Basic Industries Corporation obtain merger clearance from the Ukrainian competition authority for the USD 69.1 billion sale of 70% of its shares by the Public Investment Fund of Saudi Arabia – the sovereign wealth fund of the Kingdom of Saudi Arabia – to the Saudi Arabian Oil Company. 

Redcliffe Partners describes the Saudi Basic Industries Corporation as "a global leader in diversified chemicals headquartered in Riyadh, Saudi Arabia." According to the firm, "it manufactures on a global scale in the Americas, Europe, Middle East, and Asia Pacific. The company has operations in over 50 countries with a global workforce of over 33,000 employees.”

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

Redcliffe Partners’ team included Partner Anastasia Usova, Senior Associate Nataliya Kovalyova, and Associate Tetyana Smurova.

Editor's Note: After this article was published, Sayenko Kharenko announced that it had served as Ukrainian legal counsel to Saudi Aramco in "obtaining merger clearance in Ukraine for its USD 69.1 billion acquisition of a 70 percent stake in Saudi Basic Industries Corporation from the Public Investment Fund, the sovereign wealth fund of Saudi Arabia."

Sayenko Kharenko's antitrust team on the project was led by Partner Valentyna Hvozd and included Senior Associate Anastasia Bodnar and Associate Snizhanna Savka.

Redcliffe Partners at a Glance

Redcliffe Partners is a leading Ukrainian law firm that provides a full range of legal services to large national enterprises, international companies, financial institutions and private investors who are conducting business or investment activities in Ukraine.

We are involved in the majority of the largest and most complicated transactions and litigation cases in Ukraine.

Redcliffe is a top-tier law firm in Ukraine, being Tier 1 in all of our key practices: Banking, Energy and M&A according to Legal 500 2019.

The basis of our work and dynamic development is a powerful international team, practical experience in the most active business sectors, and impeccable professional ethics and business transparency.

Firm's website: www.redcliffe-partners.com