Basic Chemical Industries Company signed an letter of intent to acquire 49% stake in Union Chlorine L.L.C. from Oman Chlorine S.A.O.G., Oman Industrial Development Company SAOC, Horizon Energy, LLC and MS Union Chlorine.

Basic Chemical Industries Company (SASE:1210) signed an letter of intent to acquire 49% stake in Union Chlorine L.L.C. from Oman Chlorine S.A.O.G. (MSM:OCHL), Oman Industrial Development Company SAOC, Horizon Energy, LLC and MS Union Chlorine on July 13, 2021. The validity of LOI is 90 days from the date of signature. The deal is subject to consummation of due diligence.