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FINANCIAL NEWS
Saudi Dabbagh sells 19 percent stake in Petromin
10 Dec 2013
(MENAFN) Saudi Arabia’s Dabbagh Group has announced the sale of 19 percent stake in its lubricants business Petromin, according to Arab News.
The sale plan by Dabbagh Group will help repay debt used to buy its Indian partner in the beginning of the current year.
The family-owned Dabbagh Group owns all of Jeddah-based Petromin as it bought 49 percent stake held by India’s Hinduja Group in May.
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