Terpel sells service station business in Ecuador and Peru
Published on: Jun 24, 2024
Primax and Coesti have acquired the company’s retail operations in Peru and Ecuador in various operations.
Terpel's Board of Directors decided to sell its subsidiary in Ecuador and several assets of its subsidiary in Peru, divesting the brand's service station business in each country.
The company decided to sell 100% of the assets of the companies TERPEL PERÚ and TERPEL COMERCIAL PERÚ. Both are subsidiaries of the firm based in Peru and were responsible for its fuel retail business, selling both liquid fuels and natural gas for vehicles (NGV).
On the other hand, it was decided to sell 100% of the shareholding of Organización Terpel S.A. in TERPEL COMERCIAL ECUADOR. This is another subsidiary of the Colombian brand based in Ecuador and in charge of the local service station and convenience store business.
Both Primax and Coesti have acquired the chain’s operations in Peru while Primax acquired those of Ecuador, in a deal worth $64,000,000.
This decision coincides with Terpel's interest in focusing on businesses with the greatest potential for growth and profitability in each market it operates in. All the operations are subject to the approval of the competent authorities in each country.
The company assured that it will continue to distribute Mobil lubricants in both countries. At the same time, it will continue to commercialize aviation fuels and the wholesale of liquid fuels for vehicles in Peru and NGV for mass transportation in its capital.
