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April 17, 2018

Volume 2 Issue 34

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GP Buys Stake in Mag

GP Global has acquired a majority stake in United Arab Emirates based Mag Lube in a deal that values the company at close to U.S. $75 million, GP announced in an April 11 press statement. Formerly known as Gulf Petrochem Group, GP will gain access to Mag Lube’s business in more than 40 countries spanning the Middle East, Africa and Asia.