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New Deal


Announced

Completed

Petromin completed the investment in SpareIt.

Synopsis

Petromin, a Saudi Arabian lubricants and automotive services company, completed the investment in SpareIt, an Indian auto-tech platform. Financial terms were not disclosed. "Investment in SpareIt® marks a cornerstone for Petromin’s business development in India. We intend to increase our penetration in the region and believe that a tech-enabled approach is key to build a scalable and sustainable business across the various verticals of Petromin. During our study of the market and screening opportunities in India, SpareIt® stood out with its vision, rapid execution ability and maturity, along with the drive of its founders, making it an ideal addition to NAP’s profile," Sanjay Nigam, Petromin Managing Director.

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