Terpel mulls appeal to revive ExxonMobil Colombia takeover bid

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Tuesday, December 5, 2017

Colombian fuel distributor Terpel is considering an appeal against conditions imposed on its planned acquisition of ExxonMobil's local fuel and lubricant businesses.

In a regulatory filing, Terpel said Colombia's industry and commerce watchdog (SIC) set a December 15 deadline for an appeal.

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Last week, Terpel said the conditions cited by the regulator relate to alleged breaches of competition rules.

ExxonMobil Colombia operates in the fuel retail and chemical sectors under the Mobil and Esso brands.