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Sabic, GE complete $11.6bn deal
2007-09-01 - AME Info | Saudi Arabia | Latest News - The General Electric Company (GE) has now completed the sale of its plastics business to the Saudi Basic Industries Corporation (Sabic), for $11.6bn in cash plus the assumption of liabilities. GE will use the proceeds from the sale to complete its $27bn stock buyback programme. The unit is a global supplier of plastic resins widely used in the automotive, healthcare, consumer electronics, transportation, building and construction, telecommunications and optical media sectors.  

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