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The Saudi Arabian Oil Company, Aramco, has announced the signing of an equity purchase agreement to acquire Valvoline Inc.’ “Valvoline Global Products”, for US $2.65 billion. Valvoline Global Products is a leading global producer and distributor of premium branded automotive, commercial, and industrial lubricants, and automotive chemicals.
The strategic acquisition will complement Aramco’s line of premium branded lubricant products, optimize its global base oils production capabilities, and expand Aramco’s own R&D activities and partnerships with OEMs.
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