Distributor Oman Oil Marketing is negotiating to acquire a 40 percent shareholding in blender Lubechem International Industry, of the United Arab Emirates, for 1.5 million dirham (U.S. $408,000).
According to a July 21 Oman Oil filing with the Muscat Securities Market, the primary business purpose of Lubechem is the manufacturing and blending of greases, lubricants and chemicals, and this acquisition is expected to enhance the ability of [Oman Oil Marketing Co.] in its lubricants vertical supply chain integration process.
The transaction is expected to be concluded within 30 days of the securities market filing date.
According to its web site, Oman Oil Marketing is the sole distributor of Castrol and BP branded lubricants in Oman, servicing market segments such as commercial and industrial, franchise workships, rigs, transport companies and the government. The company also operates nine LubePlus quick lube facilities.