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Oman/Germany: State oil giant finalizes chemical buyout

By  |  December 11, 2013

The Oman Oil Company has officially closed its buyout of Germany-based chemicals producer Oxea, reports say, as state-run OOC looks to expand in the chemicals industry.

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    Following antitrust clearance, OOC said it is looking forward to now expanding within Europe and North America through the buyout. Further, the company said, it will allow OOC the resources to work in emerging Asian markets.

    The financial details of the transaction were not disclosed by the parties.

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