Aramco, renowned as one of the world’s leading integrated energy and chemicals companies, has finalised the acquisition of a 100 percent equity stake in Esmax Distribución SpA (“Esmax”), a prominent diversified downstream fuels and lubricants retailer based in Chile.
Esmax boasts a comprehensive national presence encompassing retail fuel stations, airport operations, fuel distribution terminals, and a lubricant blending plant.
Pictured at the transaction closing are Southern Cross Group partner Raul Sotomayor, front left, and Aramco Europe president & CEO Mazin Dabbagh, front right. Back row, from left, are Southern Cross Group partner Jaime Besa, Aramco vice-president of retail and Esmax chairman Ziyad Juraifani, and Aramco international retail director Nader Al Douhan.
The transaction, initially unveiled in September 2023, marks Aramco’s inaugural downstream retail investment in South America. It underscores the allure of the Chilean market and aligns with the company’s strategic objective to fortify its downstream value chain.
Yasser Mufti, Aramco’s executive vice president of products & customers, expressed his satisfaction with the acquisition, stating: “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.”
For more information visit www.aramco.com
