India's Gulf Oil Puts Up $1B For US Auto Chemicals Co.

Law360, New York (November 7, 2012, 1:59 PM EST) -- India's Gulf Oil Corp. Ltd. has agreed to pick up specialty chemicals and lubricant manufacturer Houghton International Inc. from New York private equity firm AEA Investors LP for $1 billion, Gulf Oil said Wednesday.

Houston-based Houghton will build on Gulf Oil's existing business making lubricants for use in agriculture, automotive and other industrial sectors. Gulf Oil, a division of the global conglomerate Hinduja Group, did not say how it would cover the purchase price or when it expects to button up the deal, which is subject...
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