Chandra Asri to Acquire Exxon's Singapore Retail Fuel Stations
Chandra Asri Pacific will acquire ExxonMobil's network of 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.
- The value of the deal was not disclosed.
- Chandra Asri will continue to use the Esso brand and buy fuels from Exxon.
- Exxon staff running the business will be taken on by Chandra Asri.
The company was unable to share commercial details of the deal.
The announcement confirms a Reuters report that Chandra Asri's joint venture was in talks with Exxon Mobil to buy the assets.
Shares of Chandra Asri Pacific were last up 2.1% on Friday.
Author's summary: Chandra Asri buys Exxon's Singapore stations.
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