Saudi Aramco Agrees to Purchase Chile's Esmax
09.16.2023 By Tank Terminals - NEWS

September 16, 2023 [Reuters]- Saudi Arabian oil giant Aramco (2222.SE) agreed to purchase a Chile’s Esmax Distribución SpA (Esmax) from Southern Cross Group, the company said in a statement on Friday.

 

“The transaction is subject to certain customary conditions, including regulatory approvals,” the statement added.

In 2022, Esmax recorded revenue of the equivalent of $2.5 billion and a profit of $57.7 million. Esmax distributes Petrobas fuel in Chile.

In 2016, Petrobras agreed to sell its assets in Chile to a company controlled by Private Equity I Investment Fund, managed by Ameris Capital and in which Southern Cross Group is the main contributor.

The Ameris fund said it expected the approval conditions to be met by the fourth quarter of 2023.

 

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Axalta to Acquire the CoverFlexx Group, a Leading Aftermarket Coatings Business Focused on Economy Customers in North America
05.17.2024 - NEWS
May 17, 2024 [Axalta]- Axalta Coating Systems (NYSE: AXTA), a leading global coatings company, to... Read More
Airport Operator Groupe ADP Invests $20 Million in Sustainable Aviation Fuel Provider LanzaJet
05.17.2024 - NEWS
May 17, 2024 [ESG Today]- Sustainable aviation fuel (SAF) technology and production company Lanza... Read More
Nordsol and Prodeval Announce Groundbreaking Bio-LNG Production Facility in Portugal
05.17.2024 - NEWS
May 17, 2024 [Storage Terminals Magazine]- Nordsol, a pioneer in bio-LNG technology, and Prodeval... Read More
Dow Expands Propylene Glycol Capacity in Thailand
05.17.2024 - NEWS
May 17, 2024 [Dow]- Dow announced the start-up of its propylene glycol (PG) capacity expansion at... Read More