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12-10-2013

OOC Concludes Acquisition of Oxea

Oman Oil Company (OOC), a commercial company wholly owned by the Government of the Sultanate of Oman, has successfully concluded the acquisition of Oxea, a global manufacturer of Oxo intermediates and Oxo derivatives headquartered in Oberhausen, Germany, which was announced in October. The purchase price was not disclosed. Oxea is one of the largest global manufacturers of Oxo chemicals.

With the acquisition, OOC aims to become a vertically integrated global chemical leader in the downstream industry. With its international presence in Europe and North America, leading technology, efficient platform and longstanding experience in the Oxo segment, Oxea will support OOC's further expansion into the chemical sector.

Oxea, on the other hand, states that it is looking forward to working together with OOC which will provide additional access to growth markets in Asia and the Middle East.

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