Public Investment Fund entered into an agreement to acquire Saudi Iron & Steel Company from Saudi Basic Industries Corporation for SAR 12.5 billion.

Saudi Basic Industries Corporation SJSC is a Saudi Arabia-based company, which is engaged, together with its subsidiaries, in the manufacturing, marketing and distribution of chemical, agri-nutrient and metal products in global markets. The Company operates under the following business segments: The Chemicals segment, which includes chemicals, polymers and plastic products; the Agri-Nutrients segment, which consists of fertilizer products; the Metals segment, which consists of steel products, as well as the Corporate segment, which includes the corporate operations, technology and innovation centers, investment activities and SABIC Industrial Investments Company (SIIC). The Company’s subsidiaries include: Saudi European Petrochemical Co, Arabian Petrochemical Co and Fiber Reinforced Thermoplastics BV, among others.