Advanced Petrochemical Co. announced that its wholly-owned subsidiary, Advanced Global Investment Co. (AGIC), has signed final agreements with SK Gas Petrochemicals Co., Ltd., an indirect subsidiary of SK Gas Co. Ltd, to execute a share-swap transaction as part of both parties’ strategic plans.
According to a statement to Tadawul, under the deal, SK Gas will acquire all 30% of shares held by AGIC in SK Advanced Co. Ltd., Korea.
AGCI will acquire all 15% of shares held by SK Gas in Advanced Polyolefins Industry Co. (Advanced Polyolefins) in Saudi Arabia.
The deal value consists of a share swap plus a net cash consideration of $129.3 million, payable by AGCI to SK Gas, taking into account the fair value of the transaction.
The transaction is subject to regulatory approvals, and the net cash consideration will be funded from Advanced internal resources.
The company added that Advanced Polyolefins owns a propane dehydrogenation (PDH) plant and a polypropylene (PP) plant in Jubail Industrial City, with design capacities of 843,000 tons per year of propylene and 800,000 tons per year of polypropylene.
SK Advanced Co. Ltd. owns a PDH plant in Ulsan, South Korea, with a design capacity of 600,000 tons per year of propylene, and holds a 49.99% stake in Ulsan PP Co. Ltd., which operates a polypropylene plant with a design capacity of 400,000 tons per year.
The deal aims to increase strategic focus on core assets in Saudi Arabia and enhance operational alignment and governance at Advanced, with the financial impact expected to reflect in Q1 2026.
Advanced Petrochemical Co. announced that its wholly-owned subsidiary, Advanced Global Investment Co. (AGIC), has signed final agreements with SK Gas Petrochemicals Co., Ltd., an indirect subsidiary of SK Gas Co. Ltd, to execute a share-swap transaction as part of both parties’ strategic plans.
According to a statement to Tadawul, under the deal, SK Gas will acquire all 30% of shares held by AGIC in SK Advanced Co. Ltd., Korea.
AGCI will acquire all 15% of shares held by SK Gas in Advanced Polyolefins Industry Co. (Advanced Polyolefins) in Saudi Arabia.
The deal value consists of a share swap plus a net cash consideration of $129.3 million, payable by AGCI to SK Gas, taking into account the fair value of the transaction.
The transaction is subject to regulatory approvals, and the net cash consideration will be funded from Advanced internal resources.
The company added that Advanced Polyolefins owns a propane dehydrogenation (PDH) plant and a polypropylene (PP) plant in Jubail Industrial City, with design capacities of 843,000 tons per year of propylene and 800,000 tons per year of polypropylene.
SK Advanced Co. Ltd. owns a PDH plant in Ulsan, South Korea, with a design capacity of 600,000 tons per year of propylene, and holds a 49.99% stake in Ulsan PP Co. Ltd., which operates a polypropylene plant with a design capacity of 400,000 tons per year.
The deal aims to increase strategic focus on core assets in Saudi Arabia and enhance operational alignment and governance at Advanced, with the financial impact expected to reflect in Q1 2026.
