{"id":83943,"date":"2024-03-03T00:00:00","date_gmt":"2024-03-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/03\/aramco-wraps-up-its-acquisition-of-chiles-esmax\/"},"modified":"2024-03-03T00:00:00","modified_gmt":"2024-03-03T00:00:00","slug":"aramco-wraps-up-its-acquisition-of-chiles-esmax","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/03\/aramco-wraps-up-its-acquisition-of-chiles-esmax\/","title":{"rendered":"Aramco wraps-up its acquisition of Chile\u2019s Esmax"},"content":{"rendered":"

Aramco finalizes acquisition of Chile\u2019s Esmax: <\/strong>Oil giant Aramco has completed its acquisition of a 100% equity stake in Chile\u2019s fuel distributor Esmax Distribuci\u00f3n<\/a>, marking its entry into fuel retailing in South America, it said in a statement<\/a> on Friday. The value of the transaction was not disclosed. <\/p>\n

This has been brewing for months: <\/strong>Aramco had entered into an agreement in September<\/a> with Latin America-focused private equity firm Southern Cross Group to buy Esmax.<\/p>\n

A scale up + expansion of operations: <\/strong>The move supports Aramco\u2019s global growth strategy and boosts its downstream value chain, it said earlier. It would also allow Aramco to unlock new markers for lubricants following a transaction that saw it acquire Valvoline\u2019s lubricant business for USD 2.65 bn.<\/p>\n

What they said<\/strong>: \u201cAramco 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,\u201d Aramco\u2019s VP of Products and Customers Yasser Mufti said. <\/p>\n

About Esmax: <\/strong>Esmax is the third biggest fuel retailer in Chile with operations also in the industrial, aviation and lubricants businesses, according to Southern Cross Group<\/a>. The retailer manages some 279 service stations and 130 convenience stores. <\/p>\n","protected":false},"excerpt":{"rendered":"

The value of the purchase was not disclosed<\/p>\n","protected":false},"author":1,"featured_media":83944,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[139,10,1301,14],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-aramco","tag-enterpriseam-ksa","tag-esmax-distribucion","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"a98144c8-7b43-48fc-b6b9-945284fe8123","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/19.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Aramco wraps-up its acquisition of Chile\u2019s Esmax","related_issue":[83940],"teaser":"The value of the purchase was not disclosed","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.cc9dff2b-0294-462c-b37b-8b2a1af82a17.mp3"},"yoast_head":"\nAramco wraps-up its acquisition of Chile\u2019s Esmax - 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