Business & Finance
Saudi Aramco buys remaining 50 pct of rubber joint venture from Lanxess
DUBAI: Saudi Aramco has completed its acquisition of a 50 percent stake in Arlanxeo, its Netherlands-based joint ven
DUBAI: Saudi Aramco has completed its acquisition of a 50 percent stake in Arlanxeo, its Netherlands-based joint venture with chemicals firm Lanxess, to become the full owner of the company, it said in a statement on Monday.
Lanxess's share in the synthetic rubber and elastomer products venture was valued at 1.5 billion euros ($1.72 billion), Aramco said. Arlanxeo will maintain its current base in Maastricht.
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