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Valvoline’s Fuels Unit is Purchased by Saudi Aramco for $2.7 Billion

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Valvoline's Fuels Unit is Purchased by Saudi Aramco for $2.7 Billion

Saudi Aramco has decided and has a deal recently to purchase fuel units of Valvoline for up to $2.7 Billion. To increase the scope of its worldwide petrochemical & refinery operations, Saudi Aramco would pay $2.65 billion to purchase the petroleum division of Valvoline Inc.

According to an announcement from Valvoline, the Saudi Arabian state oil firm will pay cash to acquire the International Products division, which manufactures chemicals and lubricants for automobiles.

Words Of Director Of Saudi Aramco

Director of downstream processing for the Saudi company Aramco, Mohammed Al Qahtani, said the venture “fits well with Aramco’s expansion goal for lubrication.”

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As a means of expanding from exports of crude oil, Aramco is making significant investments in its downstream division. The segment produced $10.2 billion in the first earnings before taxes and interest and produces transportation fuels like diesel and gasoline at terminals in the United States and Asia.

Although it increased from $440 million a year ago, Aramco’s upstream sector, which generated pre-tax revenues of $700 million, still dwarfs it.

Investors and Total Transaction Cost

Valvoline

The Lexington, Kentucky-based Valvoline will spend around $2.25 billion of the total transaction proceeds to pay back investors, pay down debt, and expand in its retailing industry. It will transform into a “pure-play automobile service supplier” with over 20% income growth as a goal.

The company announced in October that it will change by detaching its products and services from Worldwide Products. The company has experienced supply deals with International Products to purchase gasoline from them. For the deal with Aramco, it received advice from Goldman Sachs Group Inc.

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Subhashree Panda: A proficient content writer, editor, and researcher. With 4 years of experience and an MBA in finance, she crafts compelling narratives on global events. Her passion for diverse journalism genres resonates widely, fostering broad audience connections.

Net Worth

Karl-Erivan Haub Net Worth 2024: How Much is the Former Managing Director of the Tengelmann Group Worth?

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Karl-Erivan Haub Net Worth 2024: How Much is the British musician and bassist Worth?

Who is Karl-Erivan Haub?

Karl-Erivan Haub, a prominent figure in the German retail industry, was born into the influential Haub family on September 29, 1932, in Wiesbaden, Germany. He was the son of Erich Haub and Elizabeth Haub (née Schmitz-Scholl), belonging to the esteemed Mülheim family Schmitz-Scholl, renowned founders of the Tengelmann grocery chain.

Karl-Erivan Haub Career

Haub’s career trajectory was marked by his dedication to the Tengelmann Group, one of Germany’s largest retail entities. After completing internships in the United States and obtaining a degree in economics from the University of Hamburg, Haub joined the family business in 1963. He ascended to the position of managing director in 1969, steering the company’s strategic direction towards retail trade expansion. Notable milestones include the acquisition of The Great Atlantic & Pacific Tea Company in 1979, which cemented Tengelmann’s international presence.

Karl-Erivan Haub Net Worth

At the time of his passing in March 2018, Karl-Erivan Haub left behind a significant net worth of $6.4 billion. However, recent developments have sparked intrigue, with reports surfacing of his alleged reappearance in Moscow after being declared legally dead in 2021. The circumstances surrounding his net worth remain uncertain amidst this perplexing saga.

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Karl-Erivan Haub Age

Born on September 29, 1932, Haub would have been 91 years old in 2024 if he had not been declared legally deceased in 2021.

Karl-Erivan Haub Family: Wife and Children

Haub was married to Helga Otto in 1958, and together they had three sons: Karl-Erivan, Georg, and Christian W.E. Haub. His dedication to family and philanthropy underscored his personal and professional endeavors, leaving a lasting legacy beyond the business realm.

Karl-Erivan Haub Height and Weight

Details regarding Karl-Erivan Haub’s height and weight are not readily available.

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Also Read: Amanda Kloots Net Worth 2024: How much is the TV personality and dancer Worth?

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Net Worth

Suge Knight Net Worth 2024: How Much is the Co-founder and Former CEO of Death Row Records Worth?

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Suge Knight Net Worth 2024: How Much is the Co-founder and Former CEO of Death Row Records Worth?

Who is Suge Knight?

Suge Knight, born Marion Hugh Knight Jr. on April 19, 1965, in Compton, California, emerged as a pivotal figure in the music industry as the co-founder of Death Row Records. Despite his upbringing in a challenging environment and his brief stint as an NFL replacement player for the Los Angeles Rams, Knight’s true legacy lies in his influential role in shaping West Coast rap culture.

Suge Knight Career

Knight’s journey began as a concert promoter and celebrity bodyguard in the late 1980s before he ventured into music publishing. His pivotal moment arrived when he co-founded Death Row Records in 1991 alongside Dr. Dre, The D.O.C., and a silent partner. Under Knight’s guidance, Death Row Records became synonymous with gangsta rap and launched the careers of iconic artists such as Tupac Shakur and Snoop Dogg.

Suge Knight’s Net Worth

Despite his significant contributions to the music industry, Suge Knight’s net worth has experienced a significant decline over the years. As of 2024, his estimated net worth stands at $210,000, a stark contrast to his once-mighty empire.

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Suge Knight Age

At the age of 59, Suge Knight’s journey reflects a tumultuous blend of success and controversy. Born on April 19, 1965, Knight’s impact on hip-hop culture transcends generations, leaving an indelible mark on the industry despite his legal battles and personal challenges.

Suge Knight Family: Wife and Children

Knight’s personal life has been as turbulent as his professional career. He has been married multiple times, including to R&B singer Michelle, with whom he shares a daughter named Bailey. Knight’s family life has been marred by legal disputes and controversies, reflecting the complexities of his persona.

Suge Knight Height and Weight

Standing tall at 6 feet 2 inches and weighing approximately 120 kg (265 lbs), Suge Knight’s physical presence mirrors his commanding influence in the music industry. His imposing stature, coupled with his robust build, symbolizes the power and authority he wielded during his heyday.

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Jeff Bezos Lookalike Cagdas Halicilar Enjoys Lavish Lifestyle By Impersonating The Billionaire 

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Jeff Bezos Lookalike Cagdas Halicilar Enjoys Lavish Lifestyle By Impersonating The Billionaire 

A 46-year-old German man, Cagdas Halicilar, is currently the talk of the town as he has emerged on the internet as Jeff Bezos’ lookalike. 

Thus, Cagdas Halicilar has transformed his profession into a professional Jeff Bezos doppleganger from an electrician. 

The 46-year-old reveals that now he lives an opulent lifestyle as an entrepreneur. 

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Cagdas Halicilar was often told by his family and friends that his looks were similar to those of a billionaire. However, only when he saw Jeff Bezos’ picture, did he understand what people around him meant. 

The New York Post reported that Halicilar dreamed of becoming a successful business executive. With him founding CB Transporte, a transport company, he lived his dream. 

After accepting his resemblance to Jeff Bezos, Cagdas Halicilar enrolled himself at a doppelgänger agency. 

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Cagdas Halicilar Gained Popularity by Being Jeff Bezos’ Lookalike

Most of the time, he dressed up in casual attire which made him look more like a billionaire, as Jeff Bezos also dressed up casually. 

Halicilar added, “It doesn’t matter whether I’m wearing a suit or wearing jeans and a polo shirt.”

He added how it requires a bit of effort to maintain his appearance like a billionaire. He shaves his head and applies Nivea cream regularly. The German doppleganger added that he has been doing the same for more than ten years now. 

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The 46-year-old has gained a lot of popularity and recognition over the years for his work as Jeff Bezos’s doppelgänger. His spouse complained that people often stopped him and asked for selfies on the street. 

In the “King of Stonks,” the German Netflix miniseries, he also had a guest spot. 

When in Seattle once, Cagdas Halicilar strolled through the Amazon campus. Surprisingly, Amazon employees thought that he was Jeff Bezos, reported TimesNow.

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He said,

“All the Amazon employees came to me, wanted selfies and thanked me for being proud to work at Amazon.” 

Furthermore, he added,

“My wish is to drink a whiskey with Jeff Bezos on his yacht. He is just as much of a yacht fanatic as I am.”

Also Read: Twitch Streamer Maya Higa Opens Up About Horrific Stalker Incident During Recent Livestream

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