Saudi Arabia's Public Investment Fund (PIF) selected Goldman Sachs & Co, Bank of America Merrill Lynch and Michael Klein as advisers on the sale of its stake in petrochemical firm SABIC to state-owned Saudi Aramco, Reuters reported on Monday, citing two sources familiar with the process. The USD70bn deal, if executed, will be the Kingdom’s biggest M&A deal. Proceeds from the deal are likely to be used to help fund planned investments at home and abroad.
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