Chandra Asri to Acquire Exxon's Singapore Retail Fuel Stations
Chandra Asri Pacific announced the acquisition of ExxonMobil's Esso-branded retail petrol stations in Singapore.
The deal, expected to be completed by the end of the year, includes nearly 60 stations and associated supply agreements.
Chandra Asri will continue to use the Esso brand, buy fuels from Exxon, and take on Exxon staff.
The value of the deal was not disclosed, and the company stated it was unable to share commercial details.
- The acquisition is part of ExxonMobil's effort to streamline its downstream operations.
- Chandra Asri Pacific's shares were up 2.1% on Friday, according to LSEG data.
Author's summary: Chandra Asri buys Exxon's Singapore stations.