Bloomberg: Aramco considers selling Aramco Oil Services

Bloomberg - Saudi Aramco is considering a potential sale of its specialty chemicals business, Arlanxeo, as the state-owned energy giant intensifies its plan to divest billions of dollars in assets.

The energy giant is working with advisors to identify potential buyers for the Dutch-headquartered synthetic rubber producer. They said Arlanxeo could attract interest from chemical companies and private equity firms.

Aramco fully acquired Arlanxeo in 2018 after purchasing its joint venture partner’s stake, the German company Lanxess, in a deal worth 1.5 billion euros ($1.75 billion). The potential divestment comes as Aramco works to sell assets valued at up to $35 billion.

Arlanxeo produces synthetic rubber and specialized elastomers used in products including tires, golf balls, and shoe soles. Owning the business, which operates across Europe, Asia, and the Americas, has helped Aramco expand beyond its core hydrocarbon operations.