Al-Qahtani explained in statements to the English-language newspaper, Arab News, that the global products business of Valvoline will acquire permanent ownership of the Valvoline brand.
He added that the acquisition will contribute significantly to achieving one of the company’s 2030 goals in selling ready-made lubricants, explaining that Valvoline, through a long-term supply agreement, will purchase lubricants from global producers.
In August, Aramco signed an agreement to acquire Valvoline for the global products of the American company Valvoline, at a value of $2.65 billion, subject to some of the usual modifications stipulated in the purchase agreement, according to the Saudi “Argaam” website.
