Puma Energy buying ExxonMobil's downstream businesses in six Central American markets
Puma Energy has agreed to acquire ExxonMobil's fuels marketing and supply businesses in Belize, El Salvador, Guatemala, Honduras, Nicaragua and Panama. Puma already has fuel marketing businesses in El Salvador, Guatemala and Honduras and also fuel supply businesses across the Caribbean, including in Puerto Rico and the Dominican Republic.
The newly acquired businesses will add approximately 290 fuel service stations and eight fuel storage terminals, a substantial business-to-business network, four aviation fuel supply businesses and two marine fuel supply businesses (in Guatemala and Panama). Puma Energy will also be acquiring ExxonMobil's Manref refinery in Managua, Nicaragua, and their 65% stake in the RASA refinery in El Salvador. The acquisition in each country is subject to regulatory approvals.
Commenting on the acquisition, Puma Energy’s chairman Pierre Eladari said, “Just as our acquisition of BP's companies was a milestone for us in southern Africa late last year, so the acquisition of these ExxonMobil companies marks a significant milestone in the growth of our business in Central America. It positions us as one of the leading fuel supply companies in the region. Together with our acquisition of the CAPECO terminal and network of service stations in Puerto Rico, we believe this creates one of the strongest and most dynamic players in this market."
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