On August 4, 2026, Saudi Basic Industries Corporation (SABIC) announced the successful closing of the divestiture of its Engineering Thermoplastics (ETP) business in the Americas and Europe to Mutares SE & Co KGaA, completed on August 3, 2026, following the fulfilment of all conditions precedent, including mandatory regulatory approvals and required carve-out activities. The transaction represents a key step in SABIC's portfolio optimization strategy, aimed at exiting structurally underperforming assets, reducing cash losses, and enhancing return on capital employed (ROCE). The disposed business had reported an operating loss of approximately SAR 1.9 billion for the year ended December 31, 2025, and approximately SAR 648 million for the six-month period ended June 30, 2026. The divestiture is expected to improve SABIC's EBITDA margin by approximately 130 to 140 basis points on a proforma basis, with the financial impact reflected in SABIC's consolidated financial statements, subject to customary fair value adjustments during the applicable measurement period.

Original announcement:

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