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Friday, May 27, 2022 18:30 GMT

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Top News of Saudi Arabia

Saudi Aramco Interested in Acquiring Valvoline's Commercial Unit

published:26/05/2022 09:26 GMT

Oil giant Saudi Aramco has approached motor oil and lubricant maker Valvoline Inc to buy its segment that caters to commercial customers, sources familiar with the matter told Reuters on Wednesday. Valvoline, which is valued at US$5.4 billion as of Tuesday's closing price, had last year decided to separate its retail services and global products division, following a strategic review. Revenue from Valvoline's global products unit accounted for about 59% of its overall sales in 2021. The...More


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