Times of Oman | News :: Oman Oil in talks to buy 40% stake in Lubechem; Sabic misses profit:
"Oman Oil Marketing Company yesterday announced it is negotiating with shareholders of Lubechem International Industry, with a view to acquiring a 40 per cent shareholding in Lubechem, for an envisaged amount of approximately Dh1.5 million. The primary business purpose of Lubechem is the manufacturing and blending of greases, lubricants and chemicals and this acquisition is expected to enhance the ability of Oman Oil in its lubricants vertical supply chain integration process, the company said in a statement. The transaction is expected to be concluded within the next 30 days."
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