Indonesia's Chandra Asri to Acquire ExxonMobil's Singapore Esso Petrol Kiosk Chain
Chandra Asri Pacific has entered into a sale and purchase agreement to acquire ExxonMobil's network of Esso-branded retail fuel stations in Singapore.
The deal, valued at around US$1 billion, includes nearly 60 stations and associated supply agreements, and is expected to be completed by the end of this year, subject to regulatory approvals.
"The decision to move to a branded wholesale model aligns with how we market fuels around the world and reflects our ongoing efforts to strengthen our business portfolio."
- Deal value: around US$1 billion
- Number of stations: nearly 60
- Expected completion: by the end of this year
Author's summary: Chandra Asri Pacific acquires ExxonMobil's Singapore Esso petrol kiosk chain.