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3/12/2007
PETRONAS COMPLETES ACQUISITION OF SELENIA
PETRONAS is pleased to announce that it has completed the acquisition of the entire interest in FL Selenia SpA, Europe's largest independent producer and marketer of branded automotive lubricants and specialist fluids, from Kohlberg Kravis Roberts & Co. LP following receipt of all the regulatory approvals for the acquisition.
The completion of the acquisition marks the beginning of a new and exciting milestone in PETRONAS' continuous efforts in building and enhancing its global lubricants business. With operations across Europe, South America and the US, FL Selenia produces high-end lubricants, transmission, anti-freeze and specialist fluids for automobiles, trucks, agricultural tractors, earth moving machinery and other industrial equipment.
FL Selenia also enjoys technical and commercial relationships with several major OEM partners, allowing it to enhance the value of its brands and presence in European and international markets. Its R&D and testing facilities are among the largest in Europe.
PETRONAS, which has witnessed considerable growth of its own lubricants business, already has a strategic arrangement with FL Selenia where FL Selenia markets SYNTIUM, PETRONAS' range of high-end synthetic lubricants, in some parts of Europe while PETRONAS provides a similar service to FL Selenia's products to certain OEMs in China.
Apart from Europe, PETRONAS also markets SYNTIUM in Bahrain, Cambodia, China, India, Indonesia, Japan, the Philippines, South Africa, Sudan, Singapore and Thailand.
The acquisition of FL Selenia brings another strong brand to PETRONAS' business and adds critical mass to its lubricants markets in Europe -- together with strong OEM relationships and world class R&D capabilities. It will also provide PETRONAS with a better position to further penetrate the high growth Asian lubricants markets.
Issued by:
Media Relations Department PETRONAS 3 December 2007
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