BP Amoco makes strategic lubes acquisition

BP Amoco PLC has agreed to buy lubricants giant Burmah Castrol PLC, Swindon, UK, for £3 billion ($4.7 billion). The news comes about 3 months after BP Amoco and ExxonMobil Corp. agreed to dissolve their European fuels and lubricants joint venture in order to satisfy the European Commission's conditions for the merger of Exxon Corp. and Mobil Corp.BP Amoco said the acquisition "will bring BP Amoco millions of new customers, giving the combination access to emerging markets where BP Amoco currently has a limited presence and making Castrol products available to BP Amoco's massive customer base worldwide." Upon completion of the acquisition, Castrol will become BP Amoco's le...

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