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Saudi Aramco has selected Citigroup Inc. to help arrange a potential multibillion-dollar stake sale in its oil export and storage terminals business, according to people familiar with the matter. The U.S. investment bank was chosen in recent days following a pitching process that drew proposals from several other Wall Street lenders, the people said, asking not to be identified because the information is private.

Aramco Is Said to Pick Citi for Oil Storage Terminals Stake Sale

Saudi Aramco has selected Citigroup Inc. to help arrange a potential multibillion-dollar stake sale in its oil export and storage terminals business, according to people familiar with the matter. The U.S. investment bank was chosen in recent days following a pitching process that drew proposals from several other Wall Street lenders, the people said, asking not to be identified because the information is private.

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