By John Donovan
Saudi Basic Industries has acquired Shell’s 50% share in the petrochemicals joint venture SADAF.
Shell has sold its stake for the sum of $820 million. The deal gives full control of the business to Saudi Basic Industries, the Saudi state-owned chemicals group known as Sabic. The sale proceeds will be used to invest in the growth of Shell’s own global chemical activities, such as in the USA.royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com