Skip to Content

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

KVIA

DUBAI, United Arab Emirates (AP) — Saudi Aramco has announced a $2.65 billion agreement to acquire Valvoline’s global products business, which includes motor oils, transmission fluids, coolants and other automotive maintenance products. Valvoline said Monday the transaction will separate its global products from its retail services businesses, transforming it into a purely automotive service provider. The company operates and franchises around 1,700 service centers, with stores across the United States offering oil changes and other quick services. Valvoline says the deal will also help it to accelerate focus on servicing electric vehicle cars. Aramco, the state-owned oil company of Saudi Arabia, has been expanding its downstream business in past years.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KVIA ABC 7 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content