Aramco has the option to buy an additional 2.9 per cent stake in Hyundai Oilbank.
The JV aims to produce lithium-ion batteries for the Vietnamese carmaker’s electric scooters and electric vehicles.
LG Chem said it would raise a total of 239.4 billion won ($224.8 million) by 2020.
SK Innovation said it’d invest up to 485.3 billion won ($453 million) in its US-based unit SK E&P America to spend on the acquisition and other businesses.
Hyundai Oilbank is South Korea’s smallest refiner by capacity.
The move will expand its range of high value-added chemical products.
South Korea’s Lotte Chemical Corp said on Thursday it had submitted a letter of intent earlier this month to acquire Singapore petrochemical company Jurong Aromatics Corp (JAC). Lotte Chemical said in a filing to the stock exchange in South Korea that it had been short-listed on Jan. 10 to acquire the… Read more »