Aramco in discussion to acquire 10% stake in Hengli Petrochemical to expand its downstream presence in China
Acquiring Company
Aramco
Acquired Company
Hengli Petrochemical
Dhahran
LiaoningEnergyOil And GasManufacturingEnergyOil And GasDescription
Aramco, a global integrated energy and chemicals company, has entered into discussions to acquire a 10% stake in Hengli Petrochemical. The potential acquisition aligns with Aramco’s strategy to expand its presence in key high-value markets and advance its liquids-to-chemicals program. The companies have signed a Memorandum of Understanding (MoU) regarding the proposed transaction, subject to due diligence and regulatory clearances.
Quick answer
Aramco is acquiring Hengli Petrochemical, announced April 22, 2024. Aramco is based in Dhahran, Eastern Province, Saudi Arabia.
- How much did Aramco pay for Hengli Petrochemical?
- The deal value was not disclosed.
- What does Aramco do?
- As one of the world's leading integrated energy and chemicals companies, our global team is dedicated to creating impact in all that we do, from providing crucial oil supplies to developing new energy technologies.
- Where are Aramco and Hengli Petrochemical based?
- Aramco is based in Dhahran, Eastern Province, Saudi Arabia. Hengli Petrochemical is based in Liaoning, China.
- Who are the decision-makers at Aramco?
- Fundz holds 2 contacts at Aramco. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
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Frequently asked
Who acquired Hengli Petrochemical?
Hengli Petrochemical was acquired by Aramco, based in Dhahran. The deal was reported on April 22, 2024. As one of the world's leading integrated energy and chemicals companies, our global team is dedicated to creating impact in all that we do, from providing crucial oil supplies to developing new energy technologies. Aramco is privately held and operates in Energy.
When did Aramco acquire Hengli Petrochemical?
Aramco's acquisition of Hengli Petrochemical was reported on April 22, 2024. Aramco, a global integrated energy and chemicals company, has entered into discussions to acquire a 10% stake in Hengli Petrochemical. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Hengli Petrochemical do?
Hengli Petrochemical Co., Ltd. is a controlled subsidiary of Hengli Group Co., Ltd. It is privately held, operating in Manufacturing, and is based in Liaoning.
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