Valvoline’s $2.65 Billion Sale of its Global Products Business to Aramco

On August 1, 2022, Valvoline Inc., a global leader in vehicle care, announced it has reached a definitive agreement with Aramco for the sale of Valvoline’s Global Products business to Aramco for $2.65 billion in cash. Cravath is representing Valvoline in connection with the transaction.

The Cravath team is led by partner Robert I. Townsend III on corporate matters and partner Sasha Rosenthal-Larrea on intellectual property matters and includes partners Andrew J. Pitts and Douglas Dolan and associates Claudia J. Ricciardi, Ellen H. Park, Olivia Ya Huang, Temiloluwa A. Dele-Dare and Jessica E. Sandor on corporate matters; partner J. Leonard Teti II, senior attorney Kiran Sheffrin and associates Duncan H. Hardell and Michael Pelle on tax matters; partner Jonathan J. Katz, practice area attorney Aaron S. Cha and associates Brendon J. Rivard and Chris S. Moon on executive compensation and benefits matters; partner Matthew Morreale on environmental matters; of counsels Jesse M. Weiss, Megan Y. Lew and Benjamin G. Joseloff on regulatory matters; senior attorney Joyce Law and practice area attorney Lauren Piechocki on real estate matters; and practice area attorney Anthony N. Magistrale and associate Ryan J. Wichtowski on intellectual property matters. Benjamin B. Arcano, former foreign associate attorney Karl Klackenberg and summer associate Liza C. Clark also worked on corporate matters; and Geoffrey Xiao and summer associate Matthew L. Ybarra also worked on intellectual property matters.