Saudi Aramco's trading afoliate Aramco Trading Co. (ATC) has acquired the Motiva Trading business in the US and set up a new subsidiary to manage its activities in North and South America. The move is part of an international expansion of the Saudi oil giant's trading operations. Industry sources have recently told Energy Intelligence that this could also involve an initial public offering (IPO) of ATC's shares — possibly by the end of the current quarter. Under the transaction announced Wednesday, ATC has acquired 100% of Motiva Trading, which will be integrated into a new wholly owned subsidiary: Aramco Trading Americas (ATA).
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