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Entity Message

Shandong

Saudi Aramco acquiring minority stake in Shangdong

Entity: Shandong Yulong Petrochemical Co., Ltd
Message Category: News Message

Braun, Uwe

10/12/2023 10:04 AM

Saudi Aramco Press Release

"Aramco, one of the world’s leading integrated energy and chemical companies, Nanshan Group Co., Ltd., Shandong Energy Group Co., Ltd., and Shandong Yulong Petrochemical Co., Ltd. today signed a Memorandum of Understanding (“MoU”) to facilitate discussions relating to the possible acquisition by Aramco of a 10% strategic equity interest in Shandong Yulong Petrochemical Co., Ltd. (“Shandong Yulong”), subject to due diligence, negotiation of transaction documents and required regulatory clearance. "