Valvoline to focus on retail by selling $2.65 billion worth lubricant division to Saudi Aramco


  • Published On: 5th Aug, 2022
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Source: https://www.reuters.com/markets/deals/valvoline-sell-global-products-unit-saudi-aramco-265-bln-2022-08-01/
To narrow its focus on its retail services business, Valvoline Inc. (VVV.N) is selling its company that manufactures lubricants, coolants, and other vehicle supplies to state-owned Saudi Aramco for $2.65 billion in cash. The company's decision to separate the two units will be strengthened by the deal announced on Monday, and the money from the sale will be used to expand the nationwide net...
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