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Oman Oil acquires Oxea from Advent International  

By Gerald Ondrey |

Advent International www.adventinternational.com), one of the largest and most experienced global firms dedicated solely to private equity, today announced its divestment from Oxea (www.oxea-chemicals.com), one of the largest global manufacturers of Oxo chemicals. Oman Oil Co. (OOC; Muscat; www.oman-oil.com), a commercial company wholly owned by the Government of the Sultanate of Oman, will acquire Oxea to strengthen its position in the global chemicals sector. The acquisition is subject to antitrust approvals and satisfaction of other conditions. The purchase price was not disclosed. OOC supports the Sultanate’s economic development program “Vision 2020” which is aimed at diversifying the economy across a variety of industrial and commercial activities in Oman and abroad while decreasing dependence on oil. With the acquisition of Oxea, OOC aims to become a vertically integrated global chemical leader in the downstream industry. “Oxea is an impressive company with a strong track record, highly diversified product portfolio, multistep value chain and strong customer base. With its international presence in Europe and North America, leading technology, efficient platform and longstanding experience in the Oxo…
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