State-owned Saudi Aramco has agreed to buy a 1.4 trillion won ($1.24 billion) st...
FILE PHOTO: Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference in Manama, Bahrain, March 7, 2017. REUTERS/Hamad I Mohammed
SEOUL - State-owned Saudi Aramco has agreed to buy a 1.4 trillion won stake in South Korean oil refiner Hyundai Oilbank, the refiner’s top shareholder said on Monday. Hyundai Heavy Industries Holdings said in a regulatory filing that it had signed a stake purchase deal with Saudi Aramco for some of its shares in Hyundai Oilbank.
Hyundai said in late January that Aramco planned to invest up to $1.6 billion in Hyundai Oilbank, to expand its foothold in South Korea.
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