Puma Energy has completed its acquisition of ExxonMobil's fuels marketing and supply businesses in Belize, El Salvador, Guatemal

abarrelfull wrote on 02 Mar 2012 06:34
Tags: belize deals downstream el-salvador exxon guatemala honduras nicaragua panama refinery trafigura

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Puma Energy has completed its acquisition of ExxonMobil's fuels marketing and supply businesses in Belize, El Salvador, Guatemala, Honduras, Nicaragua and Panama.

Having received the required regulatory approvals, Puma Energy will begin the process of integrating the newly-acquired businesses with its existing operations from March 2012 onwards. The company already operates in El Salvador, Guatemala and Honduras and also has fuel supply businesses across the Caribbean, including Puerto Rico and the Dominican Republic.

The newly acquired businesses will add approximately 290 service stations and seven fuel storage terminals, a substantial business-to-business portfolio and four aviation fuel supply businesses. The company has also acquired ExxonMobil's Manref Refinery in Nicaragua and their 65% stake in the RASA refinery in El Salvador.

Through a combination of acquisitions and strong organic growth Puma has become one of the world’s largest independent midstream and downstream oil companies, currently operating in 29 countries worldwide. The acquisition of ExxonMobil’s assets in Central America represents a new milestone for the company, following the acquisition of BP’s businesses in Southern Africa in late 2010.

Commenting on the acquisition, Puma Energy’s chairman Pierre Eladari said:

“This acquisition represents an exciting opportunity for Puma Energy as it positions us as one of the leading fuel supply companies in the Central American region. Through our strong local management, we are committed to bringing significant value to our customers who will benefit from the reliable supply of high quality fuels and lubricants at competitive prices delivered in a safe and responsible manner”

• Puma Energy has completed its acquisition of ExxonMobil's fuels marketing and supply businesses in Belize, El Salvador, Guatemala, Honduras, Nicaragua and Panama.

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