Petronas Acquires European Lubricant Maker

Resource from: CBCC Likes:2938

Dec 14,2007

Petronas Acquires European Lubricant Maker Malaysian oil and gas company Petronas has completed the acquisition of FL Selenia, a European producer of branded automotive lubricants and specialist fluids, from Kohlberg Kravis Roberts, following the receipt of all regulatory approvals. The company said that the completion of the acquisition marks Petronas's continuing efforts in building and enhancing its global lubricants business. Italy-based FL Selenia has operations across Europe, South America and the US. The lubricant company has technical and commercial relationships with several major original equipment manufacturer partners, allowing it to enhance the value of its brands, and presence in European and international markets. Petronas said that its R&D and testing facilities are among the largest in Europe. Petronas, which has also witnessed considerable growth in its own lubricants business, already has a strategic arrangement with Selenia, where the latter markets Syntium, Petronas's range of high-end synthetic lubricants, in some parts of Europe. Petronas is in a similar agreement with the Italian company to market its products in China.

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