Kuwait Projects said it hopes to take over Qurain by the end of the year.
The chief investment officer of Kuwait Projects said that there will be a bigger plan once the project is completed. The tie up will be very effective.
The firm focuses on the Middle East and North Africa.
M&A Snapshot of Qurain Petrochem in initial Pact for Merger.
The price of chemicals and other products used to make everything from plastic to paint has gone up. Demand has gone up in the past year as major economies recovered from the coronaviruses. Energy and chemical prices went up even more because of Russia's attack on Ukraine.
Once the merger is completed, we will look at the assets and decide what datememe datememe is.
The two companies signed a Memorandum of Understanding about a combination. The due diligence process will begin after a steering committee is formed.
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