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Argaam Tools ×
Saudi Aramco acquires a 50 percent stake in Arlanxeo project
On August 8, 2018, Saudi Aramco signed a deal with Germany-based Lanxess to acquire its 50% stake in Arlanxeo project.
The project is a joint venture between Aramco’s subsidiary, Aramco Overseas Company, and German specialty chemicals company Lanxess to produce synthetic rubber, and was launched in 2016.
On completion of the acquisition, Saudi Aramco will own the project entirely.
Deal Value | Method of Finance | Type | Status |
1,740.00 Million USD currencyResource Million_USD marketID 3 currencyId 3 | Internal Resources | Stake | Completed |
The Acquiring Party
Saudi Arabian Oil Co. - SAUDI ARAMCO | |
Country | Saudi Arabia |
Status | Listed |
Argaam Sector | Oil & Gas |
*Market Cap (Million SAR) | 7,272,100.00 |
*Price/Share (SAR) | 30.05 |
The Acquired Party
Arlanccio Company - Arlanccio | |
Country | Netherlands |
Status | Unlisted |
Argaam Sector | - |
*Market Cap (Million SAR) | - |
*Price/Share (SAR) | - |
- *Based on the latest data available
Important Dates
Announced Date | 08-08-2018 |
Expected date for Completion | 31-12-2018 |
Related Parties
Company | Role |
---|---|
German Chemical Group Lanxess | Owner |
Main Details
Arlanxeo is a world-leading synthetic rubber produce with sales revenue at EUR 3.2 bln in 2017, about 3800 employees and a presence at 20 production sites in nine countries.
The company’s core business is the development, manufacture and marketing of synthetic high-performance rubber for use in the automotive and tire industries, construction, and oil & gas. The company was established in April 2016 as a joint venture between Saudi Aramco and Lanxess. Lanxess announced intent to retain its stake until 2021.
Note
* The company was valued at EUR 2.75 bln when the first tranche was divested.
* The deal was valued based on total project cost of EUR 3 bln, inclusive of debts and financial liabilities.
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