Saudi Basic Industries Corporation (SABIC) is evaluating between $3bn and $10bn of potential acquisitions over the next five years in specialty chemicals and agri-nutrients, said CEO Yousef Abdullah al-Benyan. SABIC is already looking at two producers of specialty plastics with operations in Europe, the Middle East and China, and could reach a decision by the second quarter of 2018, Benyan said. The company has also been considering buying up to 10 percent of U.S. food producer Archer Daniels Midland, which makes processed foods such as ketchup, mustard, salad dressing and other condiments, according to people familiar with
Saudi Basic Industries Corporation (SABIC) is evaluating between $3bn and $10bn of potential acquisitions over the next five years in specialty chemicals and agri-nutrients, said CEO Yousef Abdullah al-Benyan. SABIC is already looking at two producers of specialty plastics with operations in Europe, the Middle East and China, and could reach a decision by the second quarter of 2018, Benyan said. The company is also looking for ways to expand its agri-nutrients operations in Africa and South America, he said.