SINGAPORE, Feb 20 (Reuters) - Saudi Arabia's Aramco 2222.SE has signed an agreement to acquire a 25% equity stake in Unioil Petroleum Philippines, the company said in a statement late on Wednesday.
The company, however, did not disclose financial details of the transaction.
Established in 1966, Unioil is a downstream fuels operator with a network of 165 retail stations and four storage terminals in the Philippines, the statement said.
The deal follows Aramco's previous retail acquisitions in Chile and Pakistan.
Aramco said the Unioil stake acquisition represents further progress in its strategic downstream expansion and growth of its global retail network.
It added that the deal aims to capitalise on anticipated growth of the high-value fuels market in the Philippines, and it planned to extend its brand and retail offerings such as Valvoline-branded lubricants to select retail stations in the country.
(Reporting by Yantoultra Ngui; Editing by Varun H K)
((Yantoultra.Ngui@thomsonreuters.com;))
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。