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SAUDI BASIC INDUSTRIES CORPORATION SJSC

(2010)
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Saudi Basic Industries SJSC : SABIC CEO says no interest in taking over Clariant

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07/28/2019 | 03:41am EDT
FILE PHOTO: Logo of Swiss specialty chemicals company Clariant is seen in Pratteln

DUBAI (Reuters) - Saudi Basic Industries Corp (SABIC) has no interest in taking over Swiss chemicals firm Clariant and considers its 25% stake in the company as "a long term strategic investment," said its chief executive Yousef al-Benyan on Sunday.

He told a news conference that once market conditions change, SABIC will have another round of talks about the joint venture with Clariant, which the two companies shelved.

Clariant said on Thursday that joint venture talks with top shareholder SABIC had been shelved due to differences over asset prices, a further setback for the Swiss chemicals maker whose CEO abruptly quit last week.

(Reporting by Marwa Rashad; Writing by Saeed Azhar)

Stocks mentioned in the article
ChangeLast1st jan.
CLARIANT LTD 4.36% 18.8 Delayed Quote.3.92%
SAUDI BASIC INDUSTRIES CORPORATION SJSC End-of-day quote.
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Financials (SAR)
Sales 2019 159 B
EBIT 2019 30 240 M
Net income 2019 18 856 M
Finance 2019 5 734 M
Yield 2019 3,93%
P/E ratio 2019 19,1x
P/E ratio 2020 17,4x
EV / Sales2019 2,05x
EV / Sales2020 1,99x
Capitalization 331 B
Chart SAUDI BASIC INDUSTRIES CORPORATION SJSC
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Saudi Basic Industries Corporation SJSC Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 10
Average target price 116,00  SAR
Last Close Price 110,20  SAR
Spread / Highest target 14,3%
Spread / Average Target 5,26%
Spread / Lowest Target -13,8%
EPS Revisions
Managers
NameTitle
Yousef bin Abdullah Al-Benyan Vice Chairman & Chief Executive Officer
Abdulaziz bin Saleh M. Al-Jarbou Chairman
Khalid Al-Garni Executive Vice President-Finance
Abdullah Mohammed bin Ibrahim Al-Issa Independent Director
Khaled Hamza Nahas Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
SAUDI BASIC INDUSTRIES CORPORATION SJSC88 795
AIR LIQUIDE14.29%58 648
AIR LIQUIDE SA (ADR)--.--%58 648
SHIN-ETSU CHEMICAL CO LTD33.56%42 077
LYONDELLBASELL INDUSTRIES2.62%28 610
WANHUA CHEMICAL GROUP52.52%19 812