(Bloomberg) -- Saudi Aramco was the world's most profitable company in 2018, according to an extract of the oil producer's accounts published by Moody's Investors Service. The company is preparing to raise debt in part to pay for the acquisition of a majority stake in domestic petrochemical group Sabic worth about $69 billion. Aramco will mostly use cash to pay for the purchase over the next three years.
To contact the reporters on this story: Anthony DiPaola in Dubai at adipaola@bloomberg.net;Dan Murtaugh in Singapore at dmurtaugh@bloomberg.net
To contact the editors responsible for this story: Nayla Razzouk at nrazzouk2@bloomberg.net, Mohammed Aly Sergie
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