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Asharq Al-Awsat
Asharq Al-Awsat
Business
Dhahran - Asharq Al-Awsat

Saudi Aramco Acquires Valvoline Inc. Global Products Business

Aramco Valvoline Saudi Aramco Oil Saudi Arabia
The Saudi Aramco logo is pictured in Saudi Arabia, on Oct. 12, 2019. (Reuters Photo)

The Saudi Arabian Oil Company (Aramco) has completed the acquisition of the Valvoline Inc. global products business (Valvoline Global Operations) for $2.65 billion, through one of its wholly-owned subsidiaries.

With this acquisition, which follows the signing of an equity purchase agreement by the companies announced on Aug. 1, 2022, Aramco accelerates its aim to become one of the world’s preeminent integrated, branded lubricants players.

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