BRIEF: Saudi's Sipchem Enters Into Business Merger Of Equals With Sahara

SAUDI INTERNATIONAL PETROCHEMICAL CO 2310.SE :

* ANNOUNCES ITS FIRM INTENTION TO ENTER INTO A BUSINESS MERGER OF EQUALS WITH SAHARA PETROCHEMICALS

* MERGER BY WAY OF A RECOMMENDED OFFER TO ACQUIRE ALL OF THE ISSUED SHARES IN SAHARA IN EXCHANGE FOR NEW SHARES IN SIPCHEM

* UPON COMPLETION OF DEAL, ALL OF SAHARA SHARES WILL BE DELISTED FROM TADAWUL AND SAHARA WILL BECOME A WHOLLY-OWNED SUBSIDIARY OF SIPCHEM

* SAYS EXCHANGE RATIO FOR EVERY ONE SAHARA SHARE, 0.8356 NEW SIPCHEM SHARES

Source text for Eikon: ID:nSSE63GPYZ Further company coverage: 2260.SE

((Reuters.Briefs@thomsonreuters.com;))