Through a material fact sent to Chile’s Financial Market Commission (CMF for its acronym in Spanish), Empresas Copec reported that Abastible, through its subsidiary Hualpén Gas, has completed the purchase of Gasib Spain and Portugal, for a total amount of € 275,460,057.

Gasib Spain is the main player in the unregulated bottled liquefied gas business in that country, and Gasib Portugal is the fifth largest company in terms of market share in that country. The companies have 6 storage and filling plants, 2 storage plants and more than 200 third-party warehouses, which together allow them to supply the entire Iberian market, the Canary Islands, Ceuta and Melilla, with sales of close to 240 thousand tons per year.

With this transaction, Abastible enters the European market for the first time, allowing it to deepen its participation in the distribution of a fuel that plays a key role in the energy transition, as well as complementing its leadership in Chile, Colombia, Ecuador and Peru. On the other hand, the presence in a more developed region, through a long-term relationship with a European energy leader, represents a relevant opportunity to promote new energies and business models in all geographies.

It should be noted that the acquisition of Gasib Spain and Gasib Portugal will enable Abastible to position itself as one of the largest liquefied gas operators in the world.