Chevron Corporation, a US-based integrated energy company, has agreed to sell certain of its fuels marketing and aviation businesses to Vitogaz, S.A., a wholly-owned subsidiary of France-based downstream petroleum company Rubis.
The fuels marketing and aviation businesses being sold are based in Antigua, Barbados, Grenada, Dominica, St. Lucia, St Vincent, Guyana, St. Kitts, French Guiana, Martinique, Guadeloupe, Trinidad, Nicaragua, Costa Rica and Belize.
Under the terms of the agreement, Rubis will acquire a network of 174 service stations operating under the Texaco brand, an equity interest in an associated refinery operation, proprietary and joint-venture terminals and aviation facilities, and Chevron's commercial and industrial fuels business.
The transactions are expected to close in full by the third quarter 2011.
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