The Saudi state oil behemoth’s subsidiary Saudi Aramco Overseas is throwing in €1.2 billion ($1.34 billion) in cash for a 50% stake in the synthetic rubber business.
Lanxess will be putting its rubber into the business, which is valued at €2.75 billion.
Included in the joint venture will be Lanxess’ 20 production facilities in nine countries, as well as 3700 employees and support staff.
The
