M&A Deal Summary

SABIC Acquires SABIC Innovative Plastics US

On May 21, 2007, SABIC acquired plastics company SABIC Innovative Plastics US from General Electric for 11.6B USD

Acquisition Highlights
  • This is SABIC’s 1st transaction in the Plastics sector.
  • This is SABIC’s largest (disclosed) transaction.
  • This is SABIC’s 1st transaction in the United States.
  • This is SABIC’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2007-05-21
Target SABIC Innovative Plastics US
Sector Plastics
Buyer(s) SABIC
Sellers(s) General Electric
Deal Type Divestiture
Deal Value 11.6B USD

Target

SABIC Innovative Plastics US

Pittsfield, Massachusetts, United States
SABIC Innovative Plastics US LLC is a global supplier of plastic resins widely used in automotive, healthcare, consumer electronics, transportation, performance packaging, building and construction, telecommunications and optical media applications.

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Buyer(S) 1

Buyer

SABIC

Riyadh, Saudi Arabia
Category Company
Founded 1976
Sector Chemicals
DESCRIPTION

SABIC is a Saudi state-owned chemical manufacturing company that operates six interlinked strategic business units: Basic Chemicals, Intermediates, Specialty Products, Polymers, Fertilizers, and Metals. The company has significant research resources and has dedicated Research and Technology centers in Riyadh, Geleen in the Netherlands, Houston USA, and Vadodara in India. SABIC was founded in 1976 and is based in Riyadh, Saudi Arabia.

DEAL STATS #
Overall 2 of 2
Sector (Plastics) 1 of 1
Type (Divestiture) 2 of 2
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2007) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-27 Huntsman s European Chemicals and Polymers Business

United Kingdom

Huntsman's European Chemicals and Polymers Business is a global manufacturer and marketer of specialty and commodity chemicals throughout its four principal businesses: polyurethane chemicals (in particular "MDI"), propylene oxide ("PO"), petrochemicals (in particular olefins) and titanium dioxide ("TiO2").

Buy $826M

Seller(S) 1

SELLER

General Electric

Boston, Massachusetts, United States
Category Company
Founded 1892
Sector Diversified
Employees205,000
Revenue 67.6B USD (2023)
DESCRIPTION

General Electric is a diversified technology and financial services corporation. Products and services range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products. General Electric was founded in 1892 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 13 of 45
Sector (Plastics) 1 of 1
Type (Divestiture) 12 of 38
State (Massachusetts) 1 of 2
Country (United States) 11 of 35
Year (2007) 2 of 3
Size (of disclosed) 1 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-04 Smiths Aerospace

United States

Smiths Aerospace, Inc. is a supplier of integrated systems for aircraft manufacturers and components for engine builders. The business holds key positions in the supply chains of all major military and civil aircraft and engine manufacturers

Buy $4.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-01 Garanti

Istanbul, Turkey

Garanti is a financial services company that offers retail and commercial banking services. Garanti was founded in 1946 and is based in Istanbul, Turkey.

Sell -
Mergr

Product

Company

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