HONG KONG (Reuters) – Major Chinese investors are in talks to buy a stake in Saudi Aramco, several sources told Reuters on Wednesday, as Saudi Arabia’s state oil firm prepares to sell another slice of its business to international investors.
Saudi Arabia was in discussions to sell 1% of Aramco to a leading global energy company and could sell further shares including to international investors within the next year or two, Crown Prince Mohammed bin Salman said in televised remarks on Tuesday.
A stake of 1% would equate to around $19 billion based on Aramco’s current market capitalisation.
Sovereign wealth fund China Investment Corporation (CIC) was among those that could invest, two sources told Reuters.
