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The Independent UK
The Independent UK
National
Via AP news wire

Valvoline to sell its global products arm to Saudi's Aramco

Valvoline Aramco Saudi Aramco Oil
Copyright 2021 The Associated Press. All rights reserved

Saudi Aramco announced a $2.65 billion agreement on Monday to acquire Valvoline's global products business, which includes motor oils, transmission fluids, coolants and other automotive maintenance products.

Valvoline said the transaction will separate its global products from its retail services businesses, transforming it into a purely automotive service provider. The more than 150-year-old company operates and franchises around 1,700 service centers, with stores across the United States offering oil changes and other quick services.

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