Article: Gulf Oil Corp. sells Gulf Oil Trading Co. to GOTCO.

PITTSBURGH, Nov. 20 /PRNewswire/ -- Gulf Oil Corp., a wholly owned subsidiary of Chevron Corp., announced today the sale of the principal trading business of Gulf Oil Trading Co.

The buyer is GOTCO N.V., a new company formed by the Hinduja Group of international trading and banking companies, joined by ALEF Investment Corp., an affiliate of the Saudi European Group and a group of Gulf Oil Trading Co.'s present employees. F. Eberstadt and Co. Inc., helped in the organization of the deal and will take an equity position. A representative of the Hinduja Group will serve as chairman. Herbert I. Goodman, who has been president of the division, will be the president ...

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