A man walks past the headquarters of Saudi Basic Industries Corp (SABIC) in Riyadh, Saudi Arabia October 27, 2013. REUTERS/Faisal Al Nasser
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Saudi Basic Industries Corp., the Middle East's biggest petrochemicals maker, is exploring an acquisition of OCI NV's methanol assets that would solidify its status as one of the world's biggest producers of the chemical, people familiar with the matter said.Preliminary discussions between Sabic, as the state-controlled firm is known, and OCI may not lead to an agreement, they said.A representative for Sabic declined to comment.OCI rose 15 percent to 24.04 euros at 4:20 p.m. in Amsterdam trading, giving the firm a market value of about 5.1 billion euros ($5.7 billion).
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