Notice Regarding Sale Of A Portion Of Shares Sumitomo Chemical Holds In Petro Rabigh, An Associate Accounted For Using Equity Method, And Reco‍rding of loss on debt waiver for a loan to Petro Rabigh​

SUMITOMO CHEMICAL

07/08/2024 05:22

(Repeats with more RICs)
       Aug 7 (Reuters) - Sumitomo Chemical Co Ltd  4005.T :
    * SUMITOMO CHEMICAL CO LTD: NOTICE REGARDING SALE OF A
PORTION OF
SHARES SUMITOMO CHEMICAL HOLDS IN PETRO RABIGH, AN ASSOCIATE
ACCOUNTED FOR USING EQUITY METHOD, AND RECORDING OF LOSS ON DEBT
WAIVER FOR A LOAN TO PETRO RABIGH
    * SUMITOMO CHEMICAL CO LTD: SUMITOMO CHEMICAL TO SELL 22.5%
OF
SHARES OF PETRO RABIGH, A PORTION OF ITS OWNERSHIP INTEREST IN
COMPANY, TO SAUDI ARAMCO AT SAR 7 PER SHARE OR FOR A TOTAL OF
APPROXIMATELY US$702 MILLION
    * SUMITOMO CHEMICAL CO LTD: EXPECT TO RECORD A LOSS BEFORE
TAXES
OF APPROXIMATELY 27.0 BILLION YEN IN ITS CONSOLIDATED FINANCIAL
RESULTS FOR Q2 OF FISCAL YEAR ENDING MARCH 31, 2025
    * SUMITOMO CHEMICAL CO LTD: AS A MEASURE TO IMPROVE PETRO
RABIGH'S
FINANCIAL POSITION, SUMITOMO CHEMICAL AND SAUDI ARAMCO HAVE
AGREED TO EACH WAIVE EXISTING REVOLVING SHAREHOLDER LOANS, WHICH
SUMITOMO AND SAUDI ARAMCO MADE EQUALLY TO PETRO RABIGH IN
AGGREGATE AMOUNT OF US$ 1,500 MILLION

Source text for Eikon:  ID:nTStg89e6b 
Further company coverage:  4005.T 

 (Reporting by Tokyo Newsroom)
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