By means of a material fact sent to Chile’s Financial Market Commission (CMF), Empresas Copec reported that its subsidiary Abastible S.A., through Hualpén Gas S.A., has entered into an agreement to purchase the liquified gas business that Compañía Española de Petróleos S.A. (CEPSA) holds in Spain and Portugal.

The total value of the transaction amounts to €275 million, subject to customary adjustments for this type of transaction. This deal will be completed once the respective validations have been received from the European authorities, in relation to foreign direct investment, and from the European Commission, in matters of free competition, among others.

With this transaction, the Company becomes one of the 10 leading firms worldwide in the distribution of liquified gas, a fuel that plays an important role in the energy transition. On the other hand, the transaction means the beginning of a long-term relationship with one of the European leaders in driving this transition and represents the first steps into a territory that will allow our subsidiary to move towards new energies and business models.