Saudi Aramco Acquires ESMAX Distribution Company in South America
Saudi Aramco has reached an agreement to fully acquire ESMAX Distribution Company (SBE) from Southern Cross Group, subject to customary conditions, including regulatory approvals.
Expanding into South America
Saudi News Agency SPA reported that the deal represents Saudi Aramco’s first investment in a retail and marketing business in South America, which has promising and attractive markets.
Strengthening the Value Chain Strategy
According to SPA, the transaction will strengthen Saudi Aramco’s value chain strategy in the refining, chemicals, and marketing sectors. It will also help open up new distribution opportunities for Valvoline lubricants following Saudi Aramco’s acquisition of Valvoline International Products in February 2023.
An Important Step for Saudi Aramco
For his part, Saudi Aramco President of Refining, Chemicals and Marketing, Muhammad bin Yahya Al-Qahtani, considered this agreement an important step that is part of the company’s strategy aimed at strengthening its global presence in the oil refining, chemicals, and marketing sectors. Al-Qahtani emphasized the desire to take advantage of the opportunities offered by the company, as it provides more aspects of cooperation with the commercial and production system of Saudi Aramco.
Expanding the Business into Retail and Trade Sectors
Al-Qahtani further stated that this acquisition provides a platform to launch the Saudi Aramco brand in Chile and South America, contributing to the discovery of great potential to benefit from new markets for the company’s products. ESMAX, with its 100 years of experience, is a well-managed company with growth potential in Chile.
Welcome to the Saudi Aramco Family
He welcomed the addition of the outstanding ESMAX team to the Saudi Aramco family as they strive to continue executing the company’s strategy in the refining, chemicals, and marketing sectors.
About ESMAX Distribution Company
SPA explained that ESMAX is considered one of the leading companies in the retail trade of fuels and lubricants in Chile. Its activities include retail gas stations, airport operations, fuel dispensing stations, as well as the production and distribution of lubricants.