Saudi Aramco has completed its acquisition of a 50 percent stake in Arlanxeo, its Netherlands-based joint venture with chemicals firm Lanxess, to become the full owner of the company, it said in a statement on Monday.

Lanxess’s share in the synthetic rubber and elastomer products venture was valued at 1.5 billion euros ($1.72 billion), Aramco said. Arlanxeo will maintain its current base in Maastricht.

Source: reuters.com