Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has obtained an unconditional approval from the European Union’s (EU) antitrust entities for its $69 billion planned acquisition of a 70% stake in the Saudi Basic Industries Corporation (SABIC).

The European Commission made the announcement on Thursday, Reuters reported.

In March 2019, Aramco signed a deal to complete the acquisition of a 70% stake in SABIC.

The deal is valued at around SAR 259.125 billion ($69.1 billion).