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Saudi Sovereign Fund Picks Goldman, Baml, Klein For Sabic Sale: Sources

by reuters.com posted 2months ago 59 views
* Roles on SABIC deal coveted prizes for banks (Adds detail, context): DUBAI (Reuters) - Saudi Arabia’s sovereign wealth fund has chosen Goldman Sachs, Bank of America Merrill Lynch and Michael Klein as advisers on its planned sale of a stake in petrochemicals firm SABIC to Saudi Aramco, sources familiar with the process said. Citigroup Inc (C.N) has won the mandate to advise Saudi Basic Industries Corp (SABIC) 2010.SE, two of the sources said on Monday, while Reuters previously reported that JPMorgan and Morgan Stanley are advising Aramco. Goldman (GS.N), Citigroup and BAML (BAC.N) declined to comment.