Hinduja Group’s Gulf Oil Corporation Ltd. (GOCL), through a step-down subsidiary structure in the United Kingdom and the U.S., has completed the acquisition of 100 per cent stake in Houghton International Inc. for $1.045 billion after satisfactory conclusion of regulatory approvals.

GOCL will operate Houghton, a strong player in industrial lubricants sector, as a separate company and the rest of Gulf’s operations will leverage Houghton's extensive base of industrial customers to offer them complete range of lubricants.

Synergies

Houghton will also leverage Gulf’s existing global network. “There are various other synergies that can be achieved in manufacturing, strategic sourcing and distribution,” Gulf Oil said.

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