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Aramco seals $2.65B deal to acquire Valvoline

Aramco seals $2.65B deal to acquire Valvoline

Arab Finance: Saudi Aramco signed an equity purchase agreement to acquire global lubricant manufacturer Valvoline in consideration of $2.65 billion, according to a press release on August 1st.

Under the agreement, the Saudi energy giant will capitalize on Valvoline’s manufacturing and distribution network and partnerships with key original equipment manufacturers (OEMs).

The finalization of the deal is pending regulatory approvals and customary closing conditions.

The acquisition will enrich Aramco’s portfolio of premium lubricants and boost its global base oils production capabilities.

Valvoline produces various classes of lubricants for automotive, commercial, and industrial services, in addition to, automotive chemicals.

 

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