Aramco is reportedly almost closing a deal with a group of banks. The oil giant has been trying to raise 10 billion to back its the acquisition of a more
Aramco is reportedly almost closing a deal with a group of banks. The oil giant has been trying to raise 10 billion to back its the acquisition of a more-than-half stake in Saudi Basics Corp from Saudi Arabia's Public Investment Fund(Almost 70%)
This is good news for a company that's had a rough couple of months because of extremely low oil prices and a pandemic.
The loan, reportedly, has been agreed upon but has not yet been finalized.
As of the moment the Aramco stock is trading at 31.00 Saudi Rials. (It's been maintaining this position for the past few months never going too high or too low and it's pretty stable.)