Chile , Ecuador and Peru
News

Chile's Abastible to purchase Repsol LPG subsidiaries

Bnamericas Published: Thursday, April 21, 2016
Chile's Abastible to purchase Repsol LPG subsidiaries

Chilean LPG distributor Abastible will purchase Repsol's LPG distribution units in Peru (Solgas) and Ecuador (Duragas).

The Solgas acquisition, when factoring in Solgas' net financial debt as of end-2015, is valued at US$264mn, Abastible parent company Copec said in a regulatory filing.

This figure will be adjusted on the payment date, based on criteria including net debt, working capital and exchange rates, Copec said, adding that the Duragas acquisition will cost US$33mn.

The transaction will make Abastible South America's third-largest LPG distributor, the filing said.

Solgas sells approximately 570,000t/y of LPG, with assets including an LPG import terminal with 10,600t of storage capacity and seven storage and bottling plants.

Duragas sells roughly 405,000t/y, and controls 37% of Ecuador's LPG market.

Abastible's 2015 profits grew 38.4% to 34.6bn Chilean pesos (US$52.5mn) due to improved margins in Chile and Colombia.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Oil & Gas (Chile)

Get critical information about thousands of Oil & Gas projects in Latin America: what stages they're in, capex, related companies, contacts and more.

  • Project: Andes LNG
  • Current stage: Blurred
  • Updated: 1 month ago

Other companies in: Oil & Gas (Chile)

Get critical information about thousands of Oil & Gas companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Sigdo Koppers S.A.  (Sigdo Koppers)
  • Sigdo Koppers is a Chilean business holding company with operations on five continents and activities in the service, industrial, and commercial and automotive sectors. The serv...
  • Company: Rendering S.A.  (Rendering)
  • The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
  • Company: Oil Malal
  • The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
  • Company: GeoPark Ltd.  (GeoPark)
  • Founded in 2002, GeoPark Ltd. is a Latin America-focused oil and gas explorer and operator with operations in Chile, Colombia, Brazil and, on a smaller scale, Argentina. The com...
  • Company: Doosan Bobcat Chile S.A.  (Doosan Bobcat Chile)
  • Doosan Bobcat Chile SA, is a supplier of machinery and equipment aimed at providing solutions to different sectors of the industry. Doosan Bobcat Chile SA is part of Doosan Infr...
  • Company: HIF SpA  (HIF)
  • The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...