Aramco, one of the world’s leading integrated energy and chemicals companies, has successfully completed the acquisition of a 100% equity stake in Esmax Distribución SpA (“Esmax”), a leading diversified downstream fuels and lubricants retailer in Chile.
Read also – wagely Secures US$23M in New Funding
Esmax has a national presence that includes retail fuel stations, airport operations, fuel distribution terminals and a lubricant blending plant.
Read also – Accenture Completes Acquisition of Jixie
The transaction, which was first announced in September 2023, represents It’s first Downstream retail investment in South America, illustrates the attractiveness of this market, and supports the Company’s strategic goal to strengthen its Downstream value chain.
Yasser Mufti, Aramco Executive Vice President of Products & Customers, said: “We are delighted to conclude the acquisition of Esmax and look forward to working with the outstanding team on the ground in Chile to achieve our shared ambitions. Aramco aims to be a primary global retail player and this deal combines our high quality products and services, including Valvoline lubricants, with the experience and quality of an established operator in Chile.”
About Aramco
Aramco is one of the world’s largest integrated energy and chemicals companies, creating value across the hydrocarbon chain, and delivering societal and economic benefits to people and communities around the globe who rely on the vital energy ita supply. It is committed to playing a leading role in the energy transition.
