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In a press conference, Saudi Aramco and a leading chemical company Lanxess announced that the Saudi’s oil giant is interested in procuring Lanxess’s 50% share, worth €1.5 billion, in Arlanxeo. It is a Netherland-based chemical JV of Aramco and Lanxess. After this acquisition, Saudi Aramco will emerge as a fully strengthened company in the entire petroleum value-chain. Also, this will help Arlanxeo gear up the growth in the kingdom.