Middle Eastern firm makes record acquisition

General Electric has agreed to sell its plastics division to a Saudi petrochemicals manufacturer in the largest cross-border acquisition by a Middle Eastern firm.

GE is selling GE Plastics to Saudi Basic Industries Corporation for $11bn (€8.1bn), making it the biggest ever deal from a Middle Eastern firm, according to Dealogic, the investment banking research provider.

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Inside the Wall Street Recruitment Wars Pitting Banks Against Buyout Firms