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Saudi Aramco may sell Arlanxis chemicals
Saudi Aramco is studying the potential sale of its specialty chemicals business, Arlanxeo, which produces synthetic rubber and elastomers used in products such as tires, golf balls, and footwear. This move is part of the company's efforts to sell assets valued at up to $35 billion to fund government projects and dividend distributions. Aramco had fully acquired Arlanxeo in 2018 for $1.75 billion. Discussions are still ongoing, and the company may decide to sell the entire business or part of it. Additionally, Aramco is also involved in sale-and-leaseback transactions of its real estate holdings and oil facilities to support Saudi Arabia's economic transformation strategies amid global market challenges in the chemicals sector.
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