Saudi Aramco plans to buy stake in S Korea’s Hyundai Oilbank for $1.6b

FILE PHOTO: Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. REUTERS/Hamad I Mohammed

Saudi Aramco plans to buy up to 19.9 percent of South Korea’s Hyundai Oilbank for 1.8 trillion won ($1.61 billion) from Hyundai Heavy Industries Holdings, the holding company said in a regulatory filing on Monday, adding that the size of the deal could be subject to change.

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