Saudi Aramco, a world-leading integrated energy and chemicals company, and LANXESS AG, a leading German specialty chemicals company, announced the completion of Saudi Aramco’s acquisition of LANXESS’s interest in ARLANXEO Holding B.V., a Netherlands-based specialty chemicals joint venture between Saudi Aramco and LANXESS launched in 2016.
All relevant authorities have granted approvals for the transaction which was first announced in August 2018, Saudi Aramco says in a Press release.
Saudi Aramco’s purchase of LANXESS’s 50% share in ARLANXEO, valued at €1.5 billion on an enterprise value basis, makes it 100% owner of ARLANXEO, enabling further diversification of Saudi Aramco’s downstream portfolio, and strengthening the company’s capabilities across the energy and chemicals value-chain.