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Issue 8, 2016 - LANXESS completes joint venture transaction with Saudi Aramco

 Last Update: 2022-11-11
 Source: Internet
 Author: User

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LANXESS and Saudi Aramco complete joint venture transaction
On April 1, LANXESS and Saudi Aramco completed the formation of a new synthetic rubber company, ARLANXEO, with a 50%
stake in each party.
The transaction was first announced in September 2015 and received approval
from all relevant antitrust authorities in February 2016.

With the successful completion of the transaction, LANXESS received cash income of around EUR 1.
2 billion and 50% of the shares in the joint venture ALRANXEO were transferred to Saudi Aramco's Dutch division: Aramco Overseas Holdings Co?Peratief U.
A.

Chang Mutian, Chairman of the Board of Management of LANXESS, and Warren W.
Wilder, Vice President of Saudi Aramco Chemicals, will serve as Chairman and Vice Chairman
of ARLANXEO, respectively.

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