Saudi Aramco bids for Lanxess stake
10 Feb 2015
(MENAFN) Saudi Aramco is expected to make a bid for a minority stake in synthetic rubber unit of Germany-based Lanxess, Gulf Daily News reported.
According to Bloomberg, two undisclosed proposals had been submitted, with one party interested in a stake of 40 percent. Lanxess and Saudi Aramco declined to comment.
The majority of Lanxess’ lies in the Performance Polymers division, which recorded a 7.6 percent slide in sales to USD3.54 billion in the first three quarters of 2014, accounting for over a half of group revenues.