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;))
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。