Saudi in talks to sell 1% of Aramco, says crown prince

#
# 12:49
28 April 2021

Saudi Arabia's crown prince said in televised remarks on Tuesday that the kingdom was in discussions to sell 1% of state oil firm Saudi Aramco to a leading global energy company, APA reports citing Reuters. 

Crown Prince Mohammed bin Salman said Aramco, the world's biggest oil company which listed on the Saudi bourse in late 2019, could sell further shares including to international investors within the next year or two.

"There are talks now for the acquisition of a 1% stake by a leading global energy company in an important deal that would boost Aramco's sales in ... a major country," he said, without elaborating.

"There are talks with other companies for different stakes, and part of Aramco's shares could be transferred to the (Saudi) Public Investment Fund and a part listed ... on the Saudi bourse," he said in an interview aired by Saudi TV marking the fifth anniversary of Vision 2030.

#
#

THE OPERATION IS BEING PERFORMED