The Saudi Arabian Oil Company (Saudi Aramco) is reportedly in negotiations with Valvoline Inc. over the acquisition deal, the sources familiar with the matter noted to Wall Street Journal (WSJ) on Wednesday.
In October, Valvoline Inc. revealed its plans to divide its retail services and international products businesses, with Aramco being interested in acquiring the global products trade, according to the sources. However, the talks are still in the early stages, therefore it remains uncertain whether the two parties will reach an agreement.
American manufacturer and distributor of automotive oil Valvoline Inc. is worth roughly $5.4 billion on the stock market.
