Rongsheng Petrochemical and Saudi Aramco intend to acquire the equity of their subsidiaries from each other
On January 2, Rongsheng Petrochemical Co., Ltd. (hereinafter referred to as “Rongsheng Petrochemical”) announced that Rongsheng Petrochemical and Saudi Aramco signed a “Memorandum of Understanding” in Dhahran, Saudi Arabia, according to which the two parties intend to acquire each other’s subordinate entity shares. According to the MOU, the two parties are discussing the proposed acquisition…