Valvoline said the transaction will separate its global products from its retail services businesses, transforming it into a purely automotive service provider. The more than 150-year-old company operates and franchises around 1,700 service centers, with stores across
Valvoline noted the deal will also help it to accelerate focus on servicing electric vehicle cars. It is already a key supplier of battery fluids to electric vehicle manufacturers.
Valvoline said it expects to use the estimated
Aramco, the state-owned oil company of
“Valvoline’s global products business fits perfectly with Aramco’s growth strategy for lubricants as it will leverage our global base oils production,” said
Once the agreement is concluded, Valvoline will own its name brand for all retail services globally, excluding
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