Saudi Aramco has no plans to increase its 10% stake in HORSE Powertrain: exec

03/09/2024 Argaam
Logo ofSaudi Arabian Oil Co. (Saudi Aramco)

Logo of Saudi Arabian Oil Co. (Saudi Aramco)

Saudi Aramco has no plans to increase its 10% stake in HORSE Powertrain, a joint venture for fuel-based engines, said Executive Vice President of Products & Customers Yasser Mufti.

 

“The 10% stake hits all of the boxes that we have for our financial and strategic objectives for this company,” he told Reuters.

 

For more news and details on M&As

 

He added that the company continues pursuing more deals to expand its downstream presence.

 

Moreover, Aramco is working on more merger and acquisition (M&A) deals, Mufti noted, indicating there are many acquisition opportunities across the liquefied natural gas (LNG) sector, which it plans to exploit.

 

According to data available with Argaam, Aramco, through a wholly owned subsidiary, signed definitive agreements to acquire a 10% equity interest in HORSE Powertrain, alongside Renault Group, Zhejiang Geely Holding Group and Geely Automobile Holdings.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read