Sahara Petrochemicals Company declares that; based on the request of latest Sahara Board meeting, which took place on 02 June 2013, the start of the initial mutual understanding to study the merge with the Saudi International Petrochemical Company (Sipchem).
Both Companies will undergo feasibility study for the merge processes, where both Companies in the next five months starting today will undergo technical, financial, and regulatory studies.
Then those study results will be addressed to the Board of Directors of both Companies and the required Governmental entities, along with the General assembly meetings for both Companies to proceed further. The Company will announce any development in this regard.
Source:
http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=147036
