JPMorgan, Morgan Stanley picked to advise on Aramco's SABIC deal -sources

DUBAI (Reuters) - JPMorgan and Morgan Stanley have been picked to advise on Saudi Aramco's potential acquisition of a stake in petrochemical maker SABIC, four sources familiar with the matter said.

Late last week, Aramco confirmed a Reuters report that it was working on a possible purchase of a "strategic stake" in Saudi Basic Industries Corp (SABIC) from the Public Investment Fund, the country's main sovereign wealth fund.

Aramco and Morgan Stanley did not immediately respond to a Reuters request for comment. JPMorgan declined to comment.

(Reporting by Hadeel Al Sayegh, Tom Arnold and Rania El Gamal. Editing by Jane Merriman)