Merger negotiations underway, confirm Sipchem and Sahara Petrochemicals

Merger negotiations underway, confirm Sipchem and Sahara Petrochemicals
Negotiations between Sipchem and Saraha are ongoing regarding a potential merger.
Published: 10 June 2018 - 9:30 p.m.
By: Martin Menachery

In an interesting development, Sipchem and Saraha Petrochemicals Company (Sahara) confirmed, in separate press statements, that the negotiations between the companies are still ongoing regarding the potential merger conditions.

The statements further confirmed that the discussions between the companies are still underway about the structure of the merger, including the valuation of the two companies, which will determine the number of shares that the offeror company will issue to the shareholders of the offeree company, if the merger process is completed.

The clarification from Sipchem and Sahara was made with reference to the recent media speculations regarding the potential merger of the two companies.

The statements also confirmed that the companies will duly announce any material developments regarding the potential merger in accordance with the relevant laws and regulations.


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