India's Hinduja picks Deutsche to weigh sale of Saudi venture - sources

Newswire

DUBAI, Nov 27 (Reuters) - A unit of family-owned Indian conglomerate Hinduja Group has hired Deutsche Bank to evaluate the potential sale of its 49-percent stake in a Saudi Arabian lubricants venture that is valued at up to $700 million, three sources said. Jeddah-based Petromin is a joint venture between Gulf Oil International Group, a unit of Hinduja, and family-owned Dabbagh Group in Saudi Arabia, with the Saudi partner holding a 51-percent stake. The two ...

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