Sabic Strikes SAR1.7 Billion Deal to Sell Engineering Thermoplastics Arm to Mutares

12:56 AM EST, 01/08/2026 (MT Newswires) -- Saudi Basic Industries (SASE:2010), d/b/a Sabic, agreed to sell its engineering thermoplastics operations in the Americas and Europe to Mutares (MUX.F) at an enterprise value of 1.69 billion Saudi riyals, according to a Thursday release. The Saudi petrochemicals manufacturer will receive 210 million riyals as upfront cash, along with a minimum earnout of 262.5 million riyals. The earnout represents 30% of operating cash flows for four years, starting two years after closing, or 30% of net exit proceeds in case of an exit. The earnout is payable at the earlier of four years after the second anniversary of closing or an exit. The deal is slated to close in the third quarter, subject to regulatory approvals.