Saudi Aramco, one of the world’s leading integrated energy and chemicals companies, successfully completed the acquisition of a 100% ownership stake in Esmax Distribution Company, a leading retailer of diversified fuels and lubricants in Chile, reported Al Arabiya.
This deal, which was first announced in September 2023, also represents Saudi Aramco’s first investment in the retail business in South America. This demonstrates the attractiveness of its markets, and supports the company’s strategic goal of strengthening its value chain in the refining, chemicals and marketing sectors.
This strategic acquisition enhances Aramco’s distribution network. It also marks a significant step in its efforts to diversify its operations and establish a strong foothold in Latin American markets.
Accordingly, the acquisition of Esmax represents a key milestone in the Saudi oil giant’s global expansion strategy. By taking over a company that has a substantial presence in the retail trade of fuel in Chile, Aramco is positioning itself as a major player in the energy sector across Latin America. This move is also in line with the company’s objectives to extend its reach beyond its traditional markets.
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