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11-Dec-2018

Sipchem completes acquisition of National Power Company's shares in IGC

Sipchem announced the completion of its acquisition of the National Power Company's shares in International Gases Company (IGC). Sipchem currently owns 97% of IGC, and the subject transaction is set to be reflected in 4Q18. It is worth noting that IGC provides feedstock to International Acetyl Company for the production of acetic acid, and it is also a source of hydrogen for International Diol Company.  
 
SIPCHEM: SAR20.60 as of 10 Dec. 2018, Rating: Buy, TP: SAR26.00/share, MCap: USD2,014mn, SIPCHEM AB/2310.SE